article thumbnail

Advantages and Disadvantages of Claiming Big First-Year Real Estate Depreciation Deductions

RogerRossmeisl

Your business may be able to claim big first-year depreciation tax deductions for eligible real estate expenditures rather than depreciate them over several years. 179 deduction can be claimed for real estate qualified improvement property (QIP), up to the maximum annual allowance. But should you? Importantly, the Sec.

article thumbnail

NYU to Host Federal Real Estate and Partnerships Tax Conference

CPA Practice

The NYU School of Professional Studies Division of Programs in Business will host the 2024 Federal Real Estate and Partnerships Tax Conference at the Mayflower Hotel in Washington, DC, from June 6 to 7. Partner, Hogan Lovells, Washington, DC Leasing Property in a Troubled Real Estate Environment Glenn M. Schachat, Esq.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Depreciating Residential and Commercial Real Estate

Bharmal&Associates

A motel and apartment building are both rental real estate. The post Depreciating Residential and Commercial Real Estate appeared first on Bharmal & Associates, Inc. If you own an apartment building with a $1 million basis, your depreciation deduction is $36,360. Why the difference? Not according to the tax law.

article thumbnail

Top 3 Tax-Efficient Strategies for Deferring Real Estate Gains

Cherry Bekaert

Whether you own residential or commercial property(s), selling your real estate can be a complex process, especially when it comes to tax implications and deferral options. The good news is that the current real estate market favors sellers over buyers.

article thumbnail

PCAOB warns about auditing commercial real estate

Accounting Today

The Public Company Accounting Oversight Board released a report highlighting special auditing considerations in the commercial real estate market, at a time when many office buildings have lost tenants due to remote work and empty space has grown.

article thumbnail

Tax Deferral Strategies for Real Estate: Basics of the 1031 Exchange

CTP

Taxpayers who are willing to stay in the real estate market could benefit from a 1031 exchange. However, taxpayers may find it difficult to achieve the same return on investment with after-tax dollars outside of real estate. What other options are available?

article thumbnail

FinCEN proposes rule to crack down on real estate money laundering

Accounting Today

The Treasury Department's Financial Crimes Enforcement Network hopes to deter money laundering in the residential real estate industry with a newly proposed rule.