Articles & Case Studies

Jun
20

New IRS Partnership Audit Rules Lead to Potential Tax Liability

Jonathan B. Farrell, CPAKara Cefalo, CPA, MSA

For tax years beginning January 1, 2018 and thereafter, new rules for IRS examinations of partnerships will apply under the Bipartisan Budget Act of 2015 (the “BBA”). The BBA makes a drastic change to the manner in which partnerships are examined, by making a partnership liable to... read more

May
30

eBook: Using Repair & Capitalization Rules to Your Advantage in Real Estate

Jonathan B. Farrell, CPAPatrick J. Bevington, CPA, MSTEva Wong

Ever since the Internal Revenue Code first became effective, the IRS and taxpayers have struggled over the treatment of expenditures on tangible property, i.e. whether these amounts are currently deductible or must be capitalized and deducted through depreciation over time. Fortunately the IRS has established the final... read more

May
25

FASB’s New Guidance Benefits Real Estate Investors

Michael Videira, CPA

Investors are finally being heard after voicing their concern about the costly and complex way to account for acquisitions of real estate.  The Financial Accounting Standards Board (FASB), which sets the standards for generally accepted accounting principles (GAAP) in the U.S., issued new guidance around transactions that... read more

May
16

Tax Implications of Equity Based Compensation

Joel Rothenberg, Esq., CPA

Equity-based compensation can be an effective way to retain talented and motivated employees, and to align their interests with the business. The tax implications for employees and employers can vary significantly depending on the type of equity-based compensation plan. Companies may decide to issue stock or grant... read more

May
04

Trump Tax Reform Plan

Cheryl M. Burke

During a press briefing on April 26, 2017 the White House released the basic outline for the Trump Administration tax reform plan, which they are calling the “the biggest individual and business tax cut in American history”. Based on the brief outline, the changes could be significant.... read more