In his latest piece in Forbes, Dave McGuire discusses the rising office vacancy rates since the pandemic, leading to economic challenges in urban areas, and the growing trend of converting vacant office spaces into multifamily housing.
In this episode, hosts TJ Sponsel and Dave McGuire discuss leveraging tax planning in the current challenging real estate climate.
In his latest piece in Accounting Today, Dave McGuire discusses leveraging depreciation to mitigate tax legislation uncertainty.
A cost segregation study can be an extremely beneficial tax planning tool; however, it is often an afterthought rather than a proactive conversation. A reactive approach is often acceptable but does not come without its dangers.
This Tax Season has been marred by confusion over many specialty tax issues. Join Dave McGuire and TJ Sponsel as they discuss how the delay of passage of the Tax Relief for American Families and Workers Act is affecting 174 amortization, bonus depreciation, and 163(j), leaving many CPAs and their clients in limbo.
In Georgia, all real estate is taxable unless specifically exempted by law. Real estate includes land, buildings, improvements to land, and manufactured homes affixed to land and considered real property.
This week on Let’s Talk Tax, hosts Justin Gephart and Dave McGuire discuss the latest on bonus depreciation and break down its crucial role in tax planning.
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Tax laws are becoming increasingly complex with each passing year. The Tax Cuts and Jobs Act of 2017 (TCJA), the Inflation Reduction Act of 2022 (IRA), and other general tax updates are making it increasingly challenging to stay up to date with all the changes.
Tax And Other Considerations: Commercial-To-Multifamily Conversions
In his latest piece in Forbes, Dave McGuire discusses the rising office vacancy rates since the pandemic, leading to economic challenges in urban areas, and the growing trend of converting vacant office spaces into multifamily housing.
Unfortunately, office buildings can present challenges for multifamily conversions since they often lack the necessary plumbing, heating and individual HVAC requirements for residential properties. Offices typically use centralized HVAC systems, while multifamily properties require individual controls. This problem can be resolved but may come at a high cost. Despite the significant challenges and costs associated with these conversions, developers are encouraged to maximize available tax benefits and deductions to make these projects financially viable.
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.