By Marlon Stepp, Director, Energy Incentives, LEED GA, CEM of Tri Merit Despite all the gloom and doom predictions for commercial real estate, two-thirds of the world’s total building area today will still exist in 2040. Buildings generate nearly 40% of annual global CO2 emissions. Without widespread building decarbonization across the globe, these buildings will still be increasing […]
New business owners may be excited to learn that the IRS also allows them to deduct their annual business mileage as a business expense. However, they may be less prepared for the task of keeping accurate records of their business trips and educating themselves on the precise rules around what counts as business mileage. This
Tax Deductions for Business Vehicles: Using Standard Mileage vs Actual Expenses Read More »
When it comes to vehicle tax deductions, tax planners face a number of challenges—from keeping up with recent changes to the tax rules to educating your clients on the widespread misinformation about who is actually eligible for which deductions. Saving on taxes by using a car for business sounds convenient and appealing, but claiming the
Tax Deductions for Business Vehicles: Section 179 vs. Bonus Depreciation Read More »
The IRS has put conservation easements on its annual “Dirty Dozen” list which, says the IRS, “represents the worst of the worst tax scams.” The DOJ has also declared war on the misuse of conservation easements and is investigating some investors. How did a seemingly benign charitable tax deduction go so wrong? A Bit of
Conservation Easements Make the IRS Dirty Dozen Tax Scam List Read More »
How do you know if your rental property qualifies for the 20 percent tax deduction under new tax code Section 199A? Just what we need–something else to learn along with all of the other tax code changes this year. Well, maybe not. There is a piece of good news: we won’t be required to learn
Does my Rental Property Qualify for the New Section 199A Deduction Under Tax Reform? Read More »
Understanding tax basis is key to maximizing tax deductions, especially for shareholders or partners involved in an S corporation or partnership. Tax basis refers to the amount that a taxpayer has invested in business assets, calculated by taking the purchase price and subtracting any accumulated depreciation. This value will determine the gain or loss when
Overcoming Limits to Tax Deductions for S Corporation or Partnership Losses Read More »
Having just one powerful idea that saves your clients LOTS of money each year can give you the value you need to charge premium fees. The funny thing is, these tax breaks belong to your client – but they may not be getting them. This allows you to swoop in, recommend a few tweaks and
A Single Idea to Save Your Clients Thousands This Year Read More »
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