Tax Reform: What Real Estate Investors Must Know
With the signing into law of the Tax Cuts and Jobs Act (the “Act”), Congress has enacted the biggest tax reform law in thirty years, one that will make fundamental changes in the taxation of businesses, particularly those who own real estate...
Proposed Legislation to Extend the §179D Energy Efficient Commercial Building Deduction
This week, the "Tax Extender Act of 2017" was filed in Senate, which extended several expired tax deductions including §179D Energy Efficient Commercial Building Deduction (§179D Deduction)...
ASCSP President Alex Bagne Represents Cost Segregation Professionals at AICPA Real Estate and Construction Conference in Las Vegas
Alex Bagne, the President of ICS Tax as well as the President of the American Society of Cost Segregation Professionals (ASCSP), represented this vibrant trade organization at the American Institute of Certified Public Accountants (AICPA) at their annual Real Estate and Construction Conference in Las Vegas, NV...
ICS Tax Presents at the Ohio Society of Certified Public Accountants in Cincinnati, Ohio
On November 10, 2017, Alex Bagne, the President of ICS Tax, presented on "Must Know Tax Planning Strategies for the Construction Industry" at a conference hosted by the the Ohio Society of CPAs in Cincinnati, Ohio. ICS sponsored a booth and gave away a drone to one lucky attendee...
Draft Tax Reform Released: Now is the Time to Accelerate Deductions
The House Ways and Means Committee released draft tax reform legislation on November 3, 2017. The Tax Cuts and Jobs Act provides new detail on Republicans’ tax reform framework. It slashes the top corporate tax rate from 35% to 20% as well as significantly reduces tax for most individuals. Under...
ICS Tax Presents at the Columbus Lighting & HVAC Expo
Alex Bagne, the President of ICS Tax, presented on "Must Know Tax Planning Strategies for the Construction Industry" alongside Senior Engineer Thomas Fellure and Midwest Practice Leader Kevin Johnson. Our team of experts presented at the Columbus Lighting & HVAC Expo on November 1st...
Republicans Release Tax Overhaul Outline
On September 27, 2017, Donald Trump and the Republican Party released an outline of their tax overhaul plan. While this framework is not law, it shows their vision for both individuals and businesses. Below is a summary of major changes...
ICS Tax Presents on Accounting Methods at OICPA Conference in Cincinnati, Ohio
Alex Bagne, the President of ICS Tax, presented on Accounting Methods at the Ohio Institute of Certified Public Accountants in Cincinnati, Ohio. Taxpayers and tax professionals use Accounting Method changes as a powerful mechanism to implement valuable tax strategies as well as to maintain compliance or remove IRS audit exposure...
ICS Tax and the Miami Family Office Association Present: Time for a Fixed Asset Review
ICS Tax, LLC (ICS) and the Miami Family Office Association will be presenting on how to find money left on the table through a Comprehensive Fixed Asset Review...
ICS Tax Welcomes Thomas Fellure as a Senior Engineer
ICS Tax, LLC (ICS) is pleased to welcome Thomas Fellure as a Senior Engineer, who will be operating out of the new ICS Tax office in Columbus, Ohio...
Proposed Legislation to make the §179D Energy Efficient Commercial Building Deduction Permanent
On July 27, 2017, House Representatives Dave Reichert (R-WA), Earl Blumenauer (D-OR), and Tom Reed (R-NY) introduced new legislation to permanently extend and modify the §179D Energy Efficient Commercial Building Deduction (§179D Deduction). While there has been previous legislation to extend the §179D Deduction beyond 2016, this is the first to...
Alex Bagne Elected as President of the American Society of Cost Segregation Professionals (ASCSP)
ICS Tax, LLC (ICS) is excited to announce that its president, Alex Bagne, was elected as the President of the American Society of Cost Segregation Professionals (ASCSP). The ASCSP was founded in 2006 as the preeminent professional society for all members of the cost segregation industry. Headquartered in Washington, DC...
New Economic Analysis on the §179D Energy Efficient Commercial Building Deduction Yields Astounding Results
A new study published by a leading regional economic modeling and policy analysis firm published a report on of the economic effects of extending the §179D Energy Efficient Commercial Buildings Tax Deduction. The results are astounding...
ICS Tax, LLC Announces Partnership with the Construction Industry CPAs/Consultants Association (CICPAC)
ICS Tax, LLC is pleased to announce a strategic partnership with the Construction Industry CPAs/Consultants Association (CICPAC); a national association of accounting firms serving over 11,000 construction companies. Founded in 1989, CICPAC has grown from an alliance of six firms into a nation-wide organization with over 70 member firms. This...
Promising Future for the §179D Energy Efficient Commercial Building Deduction and the §45L Energy Efficient Home Credit
On May 4, 2017, Senator Ron Wyden along with 21 other Senators introduced The Clean Energy for America Act in the Senate. The bill contains several tax incentives that foster both energy efficiency as well as renewable energy, including modifications and extensions for the §179D Energy Efficient Commercial Building Deduction...