Cost Segregation Studies

You may have heard of a cost segregation study, or even had a specialist try to sell you one.  In this Tax Update, we are going to highlight the tax benefits of cost segregation studies, discuss factors which may point to whether you should have one done, and how to find a competent professional to conduct one. 

The “C” Corporation Alternative Minimum Tax

If you operate your business as a “C” corporation, did you know that you may be subject to another tax regime known as the corporate alternative minimum tax (“AMT”)?  Well, if you didn’t, we are going to introduce you to it in this week’s Tax Update.  

IRS Scams

Have you ever received a phone call from a person claiming to be part of the IRS? Or maybe even an email with the IRS logo alerting you that money is due with a quick link at the bottom to submit your payment? If so, you could possibly be one of the many individuals that scammers are targeting in order to steal money.

Deducting Casualty, Disaster and Theft Losses

Due to the destruction from the forest fires in Tennessee, historic flooding in Louisiana, and Hurricane Matthew, natural disasters have been prominent in the media in this past year. After the storm has cleared, that is when the dirty work begins. The damage assessment begins, and a plan for recovery is needed.  Likewise, when you or your business suffer a theft loss, the consequences can be just as devastating. 

Receipt of Non-Taxable Grants

When businesses operating as corporations are seeking to relocate or expand, an often- overlooked funding source is a direct contribution by a city or county.  Government entities or other community groups may have an interest in attracting a grocery store to underserved areas in their community, and are often willing to pay grant money as an incentive to get the business there.  


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