Expired TCJA Provisions Hurt Businesses Come Tax Time
In his latest piece in Forbes, Dave McGuire discusses the expired TCJA provisions that have led to many changes to the tax code affecting 2022 business returns. The biggest two changes are the amortization requirement of Section 174 and the changes to Section 163(j).
Due to the complexities of these areas, it is critical that business owners understand and work to mitigate the effects these can have on their bottom line.
David McGuire is a leading expert on cost segregation, fixed assets and depreciation law and a co-founder of McGuire Sponsel. McGuire continues to grow McGuire Sponsel’s national presence in cost segregation and depreciation.
He is the primary resource for alliance firms in regards to how tax law affects depreciation. His knowledge in determining asset costs and classifications has held up against IRS scrutiny and has built the firm into a trusted industry resource.