Dec 22, 2022 Brady Ware & Company. Ohio
ICS Tax Engagement Review: I have been working with ICS for the past 4 years. Amazing experience. I would highly recommend them. Betty Collins. Director. Brady Ware & Company...
Dec 22, 2022 RDP Foodservice. Ohio
ICS Tax Engagement Review: We have had the pleasure of working with ICS Tax. They are professionals and came out to the site visit with their engineers. Project went smoothly and we were able to save thousands of dollars in tax deductions...
Dec 9, 2022 Satisfying Prevailing Wage Requirements to Maximize the §179D Energy Efficient Commercial Building Deduction and the §45L Energy Efficient Home Credit
IRS published Notice 2022-61 to explain how taxpayers can meet prevailing wage requirements to obtain higher credits and deductions with the §45L Energy Efficient Home Credit and the §179D Energy Efficient Commercial Building Deduction....
Nov 16, 2022 Loudonville Farmers Equity. Ohio
Our company has utilized the services of ICS Tax, LLC for the past two years. Lacy and Michelle are the epitome of professionalism. I would highly recommend their work to other businesses. ...
Nov 10, 2022 Accounting Methods at CCH Connections User Conference
Alexander Bagne, JD, CPA, MBA, CCSP, is presenting accounting methods at the CCH Connections: User Conference in Tampa, Florida. The conference provides the skills, tools, and community that helps improve tax and accounting professionals. Alex’s presentation explains how accounting methods serve as a powerful mechanism to implement valuable tax strategies as well as how to maintain compliance or remove IRS audit exposure. ...
Nov 3, 2022 ASCSP Celebrates 16 Years Serving the Cost Segregation Industry
ASCSP is celebrating 16 years of supporting the Cost Segregation industry by hosting its annual conference in Arlington, Texas. Cost Segregation professionals from ICS Tax, LLC are attending the annual conference to stay abreast of the latest updates within the industry. At ICS, all cost segregation studies are stamped by a Certified Cost Segregation Professional (CCSP), the highest credential in the Cost Segregation industry, which requires seven years and 7,000 hours of relevant Cost Segregation experience, passing of a rigorous exam, and peer review of a prior study....
Aug 22, 2022 The Inflation Reduction Act Significantly Changes the 179D Energy Efficient Commercial Building Deduction
The existing 179D rules continue through December 31, 2022, with new rules going into effect for property placed in service January 1, 2023. The act increases the 179D deduction while lowering the minimum required savings, and expanding allocations to all tax-exempt entities...
Aug 16, 2022 The Inflation Reduction Act: Impact on §45L Tax Credit
President Biden signed Into Law H.R. 5376, The Inflation Reduction Act of 2022. The Act extended the 45L credit for homes sold or leased during 2022 with little modification. Thus, residences sold or leased in 2022 would qualify for the 45L credit using the 2021 energy efficiency standards. However, from January 1, 2023 through December 31, 2032, the Act significantly changes the 45L Energy Efficient Home Credit with new provisions and requirements. ...
Aug 8, 2022 The Inflation Reduction Act of 2022 Provides Significant Changes to the 45L Energy Efficient Home Credit
The Inflation Reduction Act of 2022 made changes to the 45L credit. This legislation provides a higher tier credit of $5,000 for eligible single family and manufactured new homes certified as a Zero Energy Ready under the Department of Energy Zero Energy Ready Home Program....
Jul 26, 2022 IRS Releases Updated Practice Unit for Auditing the 179D Energy Efficient Commercial Buildings Deduction
The IRS Large Business and International Division released an updated Practice Unit for its agents to audit the 179D Energy Efficient Commercial Buildings Deduction. It confirms that taxpayers can use the ASHRAE Standard 90.1-2007 rather than newer, more strict standards but also could be an indication that the IRS will have added scrutiny on 179D projects. ...