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IRS Releases Final Regulations under Section 199, Creating Safe Harbor Rules for Rental Real Estate

The Treasury Department and IRS have issued much needed final regulations and guidance addressing implementation of the new qualified business income (QBI) deduction. The QBI deduction was arguably one of the more complicated changes to come out of the TCJA. Through QBI, eligible businesses have the potential to reduce their tax bills. Part of the […]

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Defining and Guiding Qualified Opportunity Zones

Opportunity Zones allow Americans to combine their patriotism with their love of tax breaks.  The Opportunity Zone Provision gives taxpayers who have invested in the sale or exchange of a property in a Qualified Opportunity Zone Fund (QOZF) the opportunity to elect or defer paying taxes on the capital gains until they sell their investment. […]

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How the New Limitations on Business Interest Deductions Will Impact Contractors

Before passage of the Tax Cuts and Jobs Act, payments of business interest expense to a lender were fully deductible. Effective for tax years beginning after December 31, 2017, businesses will have limited ability to deduct its interest expense unless they can meet special criteria that would allow them to avoid the limitation. In this […]

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The Demand for Green Industrial Buildings Continues to Grow

The rise of sustainable industrial facilities continues to grow, according to recent survey results from the World Green Building Trends 2018 SmartMarket Report. The US Green Building Council (USBG) recently partnered with Dodge Data and Analytics to talk to 2,000 building professionals including architects, contractors, consultants, developers, engineering firms, and investors about green building activity. […]

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How to Avoid Being Targeted for an Audit

Tax audit. These two simple words are enough to strike fear and loathing into the hearts of many business owners. But, in reality, the Internal Revenue Service (IRS) won’t arbitrarily make your company the subject of an audit investigation. In fact, according to IRS.gov, out of the 196 million returns filed in 2016, only 1.1 […]

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