Crowe Financial Services Tax Insights – May 30, 2017
Getting Rid of Partnership Interests Can Bring Unwanted Tax Consequences
This article discusses how a financial services company that wants to take a worthlessness or abandonment loss on an unwanted partnership interest could end up with a capital loss deduction instead of an ordinary loss deduction. It explains the steps banks should take to maximize the tax benefits of such a move.
Tax Reform Gives Greater Urgency to Cost Segregation Studies
This article advises financial services companies about why they might find cost segregation studies particularly compelling in an environment of falling tax rates. With tax reform on the radar in Washington, D.C., cost segregation studies can help banks maximize their tax benefits from fixed assets with different depreciation recovery periods.
Will New Partnership Audit Rules Affect Your Partnership?
Partnerships trying to figure out proposed regulations implementing new partnership audit rules need to strategize how to respond in an uncertain regulatory climate. Learn about key areas that might be affected by new partnership audit rules, and how your partnership might consider taking proactive steps to navigate the changes.
Making Sense of the IRC’s Section 50 Regs
Investment tax credits are a good thing, but savvy investors need to understand the complexities of new and proposed Treasury regulations. Learn why the new regulations might raise concern for older transactions, and what taxpayers can do to avoid IRS challenges.