With the change in the tax law that became effective January 1, 2018, many taxpayers will benefit from lower income tax rates beginning in 2018.
The Tax Cuts and Jobs Act includes provisions for immediate expensing of 100% of qualified property placed in service after Sept. 27, 2017 and before Jan. 1, 2023. As with any law, there are always exceptions, so what does this mean for hotels? Is a hotel considered a real property trade of business?
Have you ever thought of investing in real estate to expand your investment portfolio? Understanding the benefits and detriments of owning real estate will help you make an informed decision before investing.
Businesses face increasing challenges from ever-expanding tax regulation complexities. It’s exciting, then, when tax professionals like us can dig deep within such challenges and uncover money-saving opportunities for our clients. One opportunity in particular has recently emerged, and we at Skoda Minotti think it merits serious consideration by real estate businesses of nearly any size.
Part 3 of Jim Sacher’s 12 Great Ideas for Tax Savings series What to Look For As a general rule of thumb, if you have purchased commercial real estate for an amount over $750,000, you may be able to reduce your taxes by having a cost segregation study undertaken. Cost segregation is a well-established method of […]