Cost Segregation Archives - Page 2 of 4

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....

Dec 5, 2021 Travis Mlodzik, President of the American Society of Cost Segregation Professionals, Represents the ASCSP at the AICPA & CIMA Construction & Real Estate Conference

Travis Mlodzik President of ASCSP will represent the Society at the AICPA & CIMA Construction & Real Estate Conference in Las Vegas. The ASCSP represents the best within the cost segregation industry, and Travis will be there to answer questions about the Society, selecting a cost segregation professional, and cost segregation best practices....

Nov 9, 2021 ASCSP Conference 2021

ASCSP completed its annual meeting in Austin, Texas. Travis Mlodzik, the ICS Central Practice Leader and the current ASCSP President, acted as host for the annual conference. Alex Bagne, the President of ICS and former ASCSP President, presented on the Asset Classes of Rev. Proc. 87-56, which details class lives of assets necessary to compute depreciation....

Oct 25, 2021 Enhancing Opportunity Zone Tax Savings with Cost Segregation

"Maximizing Tax Benefits with Opportunity Zones and Cost Segregation" coauthored by Alex Bagne was recently published by Bloomberg Tax Management Real Estate Journal. Combined, these two tax planning ideas can tremendously increase investment profitability....

Sep 7, 2021 Maximizing Tax Benefits with Opportunity Zones and Cost Segregation

Bloomberg Tax published an article written by ICS President, Alex Bagne and two fellow Certified Cost Segregation Professionals titled Maximizing Tax Benefits with Opportunity Zones and Cost Segregation....

Aug 20, 2021 A New Look…The American Society of Cost Segregation Professionals Updates Logo and Stamps

The American Society of Cost Segregation Professionals (ASCSP) has recently updated its logo as well as the stamps used by Certified Cost Segregation Professionals (CCSPs)....

Nov 24, 2020 IRS Issued Final Regulations on Sec. 1031 Like-Kind Exchanges, Provides Definition of Real Property, Addresses Taxpayer’s Receipt of Personal Property Incidental to Real Property

The IRS released final regulations providing guidance under IRC Sec. 1031 to implement recent changes for like-kind exchanges. Sec. 1031 allows for the deferral of gain recognition on the sale of business property if the relinquished property is replaced with a similar type of property. Prior to the Tax Cuts and Jobs Act (TCJA), both personal property and real property qualified for like-kind exchange treatment, but now only real property qualifies....

Mar 30, 2020 Additional Tax Benefits for Real Estate Investors under the Coronavirus Aid, Relief, and Economic Security (CARES) Act

As part of a $2 trillion dollar relief package, two provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act benefit many real estate owners....

Jan 31, 2020 An Unfortunate Article, Clarifying Misconceptions in the Cost Segregation Industry

The primary mission of American Society of Cost Segregation Professionals (ASCSP) is to create quality standards for the cost segregation industry. As part of this role, it identifies and clarifies misconceptions. The ASCSP published an article that corrects several errors in a recent publication by the Forbes Finance Council....

Aug 2, 2019 Why Qualified Opportunity Funds Should Consider Cost Segregation

Alex Bagne, the President of ICS Tax, LLC as well as a former President of the American Society of Cost Segregation Professionals (ASCSP), co-authored an article on the interplay between Qualified Opportunity Funds and Cost Segregation for the ASCSP Summer 2019 Quarterly Newsletter....