When Cost Segregation Costs Extra

Article:  Cost segregation is a popular tax planning technique for owners of depreciable real property. While it is a legitimate and sometimes beneficial technique, some taxpayers have adopted it without considering the...
Published on January 28, 2011

Applying AICPA Business Valuation Standards in Tax Practice

Article:  the AICPA issued Statement on Standards for Valuation Services (SSVS) No. 1, Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset, effective for all engagements accepted on or after January 1, 2008. The new standards apply to any AICPA member, or a nonmember CPA practicing in a state
Published on May 02, 2010

Like-Kind Exchanges Deferral Is Not Always the Best Option

Article:  Sec. 1031 gives taxpayers the opportunity to defer taxation on the gains they may have on their transactions. Anytime there is an opportunity to defer tax costs, tax practitioners and their clients automatically tend to assume that they should take advantage of the opportunity. However, in the case of like-kind
Published on January 28, 2011

Deductibility of Bankruptcy Costs and the Origin of the Claim

Article:  Costs incurred in a bankruptcy filing can be categorized as either personal or business related. A taxpayer cannot deduct those categorized as personal expenses but can deduct those categorized as...
Published on January 28, 2011