Tax laws and regulations are constantly changing, and it can be difficult to keep up with it all. In this blog, CSSI experts share their insights around the most relevant issues and developments impacting your tax situation.
As the nation’s leading provider of engineering-based cost segregation studies and R&D tax credit services, CSSI is closely monitoring potential changes to business tax policy. Two key areas of focus under the proposed Trump administration policies could significantly impact how businesses handle depreciation and research expenses. The Return of 100% Bonus Depreciation The current phase-out […]
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A Form 3115 is called the “Application for Change in Accounting Method.” It is for an automatic change in any method of accounting. A form 3115 is filed to change either an entity’s overall accounting method or the accounting treatment of any item, such as switching to the accrual method, accelerating depreciation, expensing a previously […]
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With the 2024 tax year wrapping up, it’s important to understand bonus depreciation for 2024 and cost segregation and how they can impact your taxes. Some tax benefits will prove beneficial for businesses when filing 2024 taxes. What is Bonus Depreciation? The term bonus depreciation focuses on first-year depreciation, where a business can deduct a […]
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Understanding the Challenge A common ownership structure for commercial buildings involves separating the business operations from the real estate ownership. This structure, while often beneficial for liability reasons, can present challenges when it comes to tax implications. The primary issue arises from the passive loss rules, which limit the ability to offset passive losses (like […]
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