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...
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...
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)...
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...
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...
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...
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...
The Interplay of Cost Segregation with the Historic Tax Credit
Alex Bagne, the President of both ICS Tax, LLC as well as the President of the American Society of Cost Segregation Professionals (ASCSP), co-authored an article on the interplay between Cost Segregation and the Historic Tax Credit for the ASCSP Spring 2019 Quarterly Newsletter...
Journal of Taxation Article Highlights the Need to Hire Competent Cost Segregation Professionals
The September 2018 edition of the Journal of Taxation discusses the practice of cost segregation with a focus on IRS Chief Counsel Advice (CCA) 201805001. This CCA memorandum reasons that the preparers of overly aggressive cost segregation studies may be subject to penalties...