Mike Woeber and Jordan Wilson, tax experts from Corporate Tax Advisors, shed light on optimizing tax savings for businesses. They delve into the reinstatement of 100% bonus depreciation, explaining its impact on real estate professionals. The duo discusses recent changes to R&D expense amortization, offering relief for innovative companies. They highlight the Section 179D deductions for energy-efficient designs, emphasizing strategic implementations and the financial benefits these can bring for various industries.
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insights INSIGHT
Specialty Tax Firms Capture Hidden Incentives
Corporate Tax Advisors focus narrowly on select tax-code sections to capture incentives.
They produce documentation for CPAs but do not file returns themselves.
insights INSIGHT
100% Bonus Depreciation Is Back
100% bonus depreciation for qualifying shorter-life property is restored and made permanent.
It applies to property placed in service after January 19, 2025, enabling long-term planning.
volunteer_activism ADVICE
Time Purchases To Capture Bonus Depreciation
If buying a building before Jan 19, 2025, evaluate the placed-in-service date carefully.
Consider delaying the in-service date past Jan 19 to qualify for 100% bonus depreciation.
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Mike and Jordan Wilson are CEO & Director of Business Development of Corporate Tax Advisors, contributing specialized knowledge in assessing and securing tax credits for businesses. They explain the nuances of corporate tax strategies and how their services help businesses capitalize on lesser-known tax incentives.
Mike and Jordan explore the latest opportunities arising from recent tax law changes, specifically the "big beautiful bill." This episode delves into how these modifications stand to impact companies in real estate, architecture, engineering, construction, and monies with revenues below $31 million.
Key Takeaways:
Understanding Bonus Depreciation: The reinstatement of 100% bonus depreciation creates significant tax-saving opportunities for real estate professionals.
R&D Credit Restoration: Amortization of R&D expenses, a costly change from past tax codes, is removed, offering significant benefits, particularly to compaMike is a seasoned tax expert at Corporate Tax Advisors, a specialty firm distinguishing itself from traditional CPA firms by focusing on capturing tax incentives for businesses. Mike's primary role involves navigating the intricate sections of the Internal Revenue Code to deliver lucrative tax savings without filing tax returns.
Section 179D Advantages: Despite upcoming changes, the incentive offers substantial deductions for energy-efficient designs, with ongoing opportunities through careful planning and project initiation.
Audit Readiness: With tax credits and deductions comes the possibility of audits, and Corporate Tax Advisors ensure proper preparation and negotiation with the IRS.
Notable Quotes:
"We generally don't have to deliver bad news. Usually, the news we're delivering is good." - Mike
"The tax code is often written in a way that if you are investing your time, energy, and resources in things that are advancing the country and the government's interests, you get opportunities to deduct your taxable income." - Renz Hayes
"It's a lot of how we evaluate how our overall economy is performing. So to have this advantage is a very necessary part of our system." - Mike
"If there's no risk to learning if there's an opportunity, why wouldn't you do that?" - Renz Hayes
"Audits are a part of life and we want to do everything we can to be ready for it in the small chance it happens." - Mike
Episode 95 featuring Jordan Wilson: Past discussion on tax strategies
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