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Updating Your Retail or Restaurant Space? What You Need to Know About IRS Revenue Procedure 2015-56

Retail|Tax

By Carl Scharf

It appears that everywhere we look businesses operating in the retail and restaurant industry are remodeling or refreshing their space in order to stay ... read more >

Purchasing or Selling a Beach Home in Florida

In a recent Tax Court Memorandum decision (TC Memo 2015-95), a married couple was not entitled to deduct a loss on the sale of a seasonal home because ... read more >

The FICA Tip Tax Credit Available to Restaurant Owners

Retail|Tax

By Carl Scharf

As our favorite time of the year is currently upon us (yes, tax season!), it is a good time to remind restaurant owners of the tax credit due to them that ... read more >

Know the Tax Considerations for a Construction Allowance in Your Lease

The negotiation of the construction allowance is an important part of a lease transaction; however, those negotiations rarely consider the tax consequences. ... read more >

Like-Kind Exchange Denied Due to Disqualified Intermediary, Taxpayer's Son

Real Estate

By Carl Scharf

In a recent Tax Court Memo 2014-110, an individual’s sale of real property and subsequent purchase of unimproved land failed to qualify as a §1031 ... read more >

Final Reminder to Group Rental Real Estate Investments and Save You $$$

Real Estate

By Carl Scharf

A taxpayer who is a real estate professional and participates in the management of multiple rental real estate properties may make an election on his or ... read more >

IRS Delays Start of Tax-Filing Season

Tax

By Carl Scharf

More fallout from the government’s partial shutdown: Early tax filers will have to wait an extra week or two to get tax refunds next year. However, ... read more >

Tax Credit for Installation of Electric Vehicle Supply Equipment

Automobile|Tax

By Carl Scharf

Buried within the American Taxpayer Relief Act of 2012 was an extension of the tax credits for alternative fuel vehicle refueling property, more commonly ... read more >

AMT "Permanently Patched"

Tax

By Carl Scharf

The dreaded Alternative Minimum Tax, or AMT, has been “permanently patched” as a result of the recent passing of the American Taxpayer Relief ... read more >