New and Improved Bonus Depreciation Provisions Now Available for a Limited Time Only

Any fan of late-night infomercials knows that a key part of the marketing pitch is that final offer that pushes the perceived value of the package well past the asking price. Similarly, the extension of bonus depreciation is the literal “bonus” of the Protecting Americans from Tax Hikes (PATH) Act that can deliver impressive value [...]

February 22nd, 2017|MARCH 2017, TAX SPECIALTY SERVICES|

5 Overlooked Tax Breaks For Contractors And Manufacturers

While some tax incentives seem to be common knowledge, others often go nearly unnoticed. Watch as CRI's Dawn Steed describes overlooked deductions that contractors and manufacturers can use to their advantage.

Made in the USA: The Section 199 Deduction

Apple pie and baseball are long-standing symbols of our country’s most favorite pastimes. For some businesses, there is a tax deduction that is also strongly associated with America: the domestic production activities deduction (DPAD). This deduction, also known as the Section 199 deduction for its place in the Tax Code, allows U.S. manufacturers and contractors [...]

Tangible Property Safe Harbor Raised to $2,500

The IRS issued final regulations in 2013 allowing businesses to expense certain purchases of tangible property under the de minimis safe harbor election. The threshold for expensing was originally set at $500 per item for businesses without applicable financial statements. The IRS has now raised that threshold to allow these businesses to expense up to [...]

December 1st, 2015|TAX SPECIALTY SERVICES|

Icing on the Cake: Simplified Tangible Property Regulation Compliance for Small Businesses

In 2013, the IRS released final tangible property regulations that require the capitalization of amounts paid to acquire, produce, or improve tangible property but allow amounts for incidental repairs and maintenance of property to be deducted. Plus, the regulations explain how to distinguish between capital expenditures and deductible business expenses. They are generally applicable to [...]


The “What” and “Why” of a Cost Segregation Study

What is a Cost Segregation Study? Cost segregation is a strategic analysis performed by a team of qualified professionals that identifies, segregates, and reclassifies property costs currently being depreciated over a longer term (such as 39 years) to shorter depreciable periods. This process allows businesses to take advantage of tax deductions that they would normally [...]


Gone but Not Forgotten: IRS Issues Final Tax Rules for Disposed MACRS Property

The IRS has largely completed its overhaul of the federal tax regulations addressing the proper treatment of expenditures incurred in acquiring, producing, or improving tangible assets. The agency has now issued final regulations outlining the proper tax treatment of dispositions of tangible depreciable property under the Modified Accelerated Cost Recovery System (MACRS), which impact all [...]

September 25th, 2014|TAX SPECIALTY SERVICES|

7 Common Questions & Answers About Cost Segregation Studies

1. Are cost segregation studies recognized by the Internal Revenue Service (IRS)? Yes. The Internal Revenue Service recognizes properly prepared cost segregations, performed with engineers, as a valid tax benefit. Better yet, current IRS procedures allow a taxpayer to reflect the tax benefits on a current return without amending prior year returns. 2. When should [...]