Cost Segregation Archives - John R. Dundon II, Enrolled Agent
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Cost Segregation

19 Jan

Posted at 00:00h in Accounting Method, Asset Classification, Basis, Business Expense, Capital Gain, Capital Loss, Cost Basis, Cost Segregation, Deductible Expense, Depreciation, Tax Guidance & Preparation

Back in June 2014 I blogged about the new IRS Regulations governing tangible personal property. These regulations prompted a vigorous debate over the last 7 months between the most astute students of the US Tax Code as to what constitutes the need to file IRS...

22 Jun

Posted at 00:00h in Asset Classification, Capital Gain, Capital Loss, Cost Basis, Cost Segregation, Entity Classification, Estate Tax, Family, Gift Tax, Self Employ, Small Business, Sole Proprietor, Tax Guidance & Preparation, Tax Problems & Requests, Tax Relief

From a tax perspective the fundamental issue is whether a legitimate business purpose exists for the formation of a distinct entity to do a sale leaseback. If one exists and this is pursued all elements of the transaction should meet an arms length standard and...

26 Aug

Posted at 00:00h in Cost Segregation, Depreciation, Like/Kind Exchange, Mortgage, Net Operating Loss, NOL, Passive Activity, Rental Real Estate, Tax Deductible Expenses, Tax Guidance & Preparation, Tax Problems & Requests, Taxable Income

As part of the IRS's continuing efforts to require greater disclosure of tax positions and strategies on returns, it recently released new, mandatory disclosure rules for grouping passive activities. Rev. Proc. 2010-13 for the first time mandates that passive-activity groupings and regrouping, as required under...

27 Jul

Posted at 00:00h in 1031 Exchange, Audit Reconsideration, Business Expense, Cost Segregation, Deductible Expense, Depreciation, Disallowed Expenses, Rental Real Estate, Tax Guidance & Preparation, Tax Problems & Requests, Tax Relief

For income tax depreciation purposes there are two major types of assets: Sec. 1250 real property and Sec. 1245 personal property. When owners acquire commercial property or tenants invest in leasehold improvements, many only allocate the purchase price between land (non-depreciable) and building (depreciated as...

26 May

Posted at 00:00h in Appeals & Audit Resolution, Asset Classification, Cost Segregation, Passive Activity, Rental Real Estate, Tax Deductible Expenses

As part of the IRS's continuing efforts to require greater disclosure of tax positions and strategies on returns, it recently released new, mandatory disclosure rules for grouping passive activities. Rev. Proc. 2010-13 for the first time mandates that passive-activity groupings and regrouping, as required under...

20 May

Posted at 00:00h in 1031 Exchange, Cancelled Debt, Capital Gain, Capital Loss, Charitable Contribution, Cost Basis, Cost Segregation, Deductible Expense, Depreciation, Estate Tax, Like/Kind Exchange, Passive Activity, Rental Real Estate, Tax Guidance & Preparation, Tax Problems & Requests

On October 3, 2008, President George W. Bush signed the Emergency Economic Stabilization Act of 2008. Tucked away in the Act is a provision that moves the responsibility of basis determination from the shoulders of the taxpayer to the shoulders of the securities industry. After December 31,...

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