MLR

Category: Real Estate & Construction

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed by President Trump on March 27th, includes small business relief in the form of SBA “paycheck protection” loans.  Key provisions of this program are highlighted in this article.

Several positive changes were made to the federal income tax depreciation rules because of the Tax Cuts and Job Acts (TCJA). The following information is provided to assist investors with their real estate accounting, to help them understand the resulting real estate tax breaks, and to keep them from any unforeseen pitfalls.

There are real estate tax opportunities that companies can leverage throughout the year to address acute business needs without jeopardizing future finances. For example, if you liquidated office space or other building assets, your business may be eligible for these tax benefits.

Your commercial property tax bill may be higher than it should be. A little bit of scrutiny can go a long way in reducing your expenses. While rising property taxes may be occurring simply because your local government needs more funding for communal needs like roads or schools, there are some steps you can take to ensure that you’re paying the lowest possible rate.

Builder’s risk insurance ensures that the insurance company will cover any equipment, materials, or property, damaged during construction, but there is a limit to this. For example, the loss must be clearly specified and included under what the insurance company considers to be “covered property”.

When was the last time you reviewed the insurance coverage on your business property? If you have an insurance agent who works closely with your company, you may be accustomed to periodic reviews to keep your insurance up to date.

Do you own residential or commercial rental real estate? The Tax Cuts and Jobs Act (TCJA) brings several important changes that owners of rental properties should understand.

The IRS has turned up the heat on the use of cost segregation studies by building owners. Auditors have a special guide to help assist them in examining the returns of taxpayers who utilize cost segregation studies.

If you own raw land as an investor, you can cash in on a tax break under Section 1237 of the tax code by subdividing the tract and selling off in smaller parcels.

Let’s say you buy a vacation home and decide to rent the place. You incur a $4,500 loss for the year. You may think: What could be simpler than claiming this loss on my tax return?