1st Quarter, 2010
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1st Quarter, 2010 |
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Cost Capitalization Rules – To Deduct or Capitalize
By Mira Finé, CPA, Tax PartnerAn age-old and difficult tax issue for those in the real estate business is whether to expense or capitalize expenditures for a real estate project. Stated another way, when you spend cash on business property you own, are you making a capital improvement to the property, or are you merely repairing or maintaining it? Read more >>> Developments Target Tax-Free Exchange
By Alison Dunnebecke, CPA, Tax PartnerThe tax-free exchange provisions of Code Section 1031 are consistently the most active area for new real estate developments. Even with the legislative developments we have to report elsewhere in this newsletter, a number of tax-free exchange items merit highlighting. Read more >>> New Legislation Affects Homebuyer Tax Credit Rules
By Jackie Noland, CPA, Senior Tax ManagerOn November 6, the President signed into law the "Worker, Homeownership, and Business Assistance Act of 2009." The new law extends and liberalizes the tax credit for first-time homebuyers, making it a much more flexible tax-saving rule. It also includes some provisions designed to prevent abuse of the credit. These important changes could make it easier for an individual or couple to purchase a home. In addition, because the changes in the Act generally assist buyers and aim to improve residential real estate markets nationwide, they also could make it easier for the homeowner to sell a home. Read more >>> |
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Happy New Year! As we begin 2010, we take a look at the option of expensing versus capitalizing the expenditures for your real estate projects. Next, the tax-free exchange provisions of Code Section 1031 are consistently the most active area for new real estate developments. Therefore, we highlight three important developments in this area. Lastly, the popular homebuyer tax credit was extended into 2010, bringing with it important changes with tax consequences.