The tax planning season is upon us and it should be a completely different experience in comparison with this time a year ago.
Tune in to McGuire on the Wire Episode 14 where Dave explains why sometimes there’s miscommunications when it comes to understanding the benefits after a specialty tax project.
Dave provides insight on the following:
-How to minimize miscommunication errors in Cost Seg and R&D studies
-why sometimes there’s a lack of understanding the effectiveness of the R&D credit
-Why it is important to manage expectations have conversations before the project starts everyone understands where the benefits are
November 1st – Cost Segregation Post TCJA, Year End Planning Topics
Host: Justin Gephart
The Tax Cuts and Jobs Act changed and increased bonus depreciation and 179. These regulations greatly affect the value proposition of Cost Segregation. The course will include a discussion of the new rules regarding what qualifies, the transitional guidance covering binding contracts, and the status of Qualified Improvement Property. We will also discuss how to recognize Cost Segregation opportunities and how to discuss them in the marketplace. In this CPE session we will discuss:
- The concept of Cost Segregation and how to recognize opportunities
- How changes in Accounting methods can be used to “look back” on assets
- How recent changes to tax law affect the benefit of Cost Segregation
- The status of Qualified Improvement Property under the new rules
Host: TJ Sponsel and David Seibel
The R&D Tax Credit is one of the most subjective areas of the tax code. With the IRS placing more scrutiny on the R&D Credit, it is important to be aware of areas of exposure when building an R&D Credit claim. In this CPE session, we will discuss:
- Recent points of exposure in an R&D audit
- The definition of “funded research”
- Eligible supply costs
On Friday, September 13th the IRS issued Final Regulations and New Proposed regulations on 168(k), Bonus Depreciation. These regulations followed closely the regulations from 2018 with some very important changes. CPAs and Taxpayers need to be aware of the changes dealing with Floor Plan Interest, Binding Contracts and other provisions. Participants to this webinar will be provided an understanding of:
- The changes under the new proposed and final regulations
- The changes to bonus eligibility for certain taxpayers taking floorplan interest
- How the binding contract rules were loosened for certain self-constructed assets
As published in Accounting Today: Dave discusses issues implementing cost seg and other depreciation changes such as Form 3115, historic credits, and more.
9/13: Final regs were issued on 100% bonus depreciation. Read the biggest changes to highlight.
Where do we stand post TCJA?
Specialty Tax Firms Must Stay Diligent As Regulations Evolve
McGuire Sponsel has added Natallia Pintusava as a tax consultant for the specialty tax and consulting firm
2020 Tax Planning
The tax planning season is upon us and it should be a completely different experience in comparison with this time a year ago. The Tax Cuts and Jobs Act is another year older and much of the guidance we were waiting for at the end of 2018 has since been issued. With that being said, the million dollar question has been, “How have the R&D Tax Credits, Cost Segregation, and IC-DISC been affected by TCJA?” Some thresholds have changed but for the most part, the specialty tax environment has never been stronger. In an effort to help our alliance partners identify valuable tax savings, we have created a quick resource that can easily be implemented into the tax planning discussions. Please feel free to download our tax planning guide and distribute as you see fit.
As always, please do not hesitate to call or email our team with any questions. Thank you again for your continued partnership with McGuire Sponsel. Wishing you a strong finish to 2019!