Showing posts with label depreciation. Show all posts
Showing posts with label depreciation. Show all posts
Sunday, June 15, 2025

Use Of Wrong Form Costs A Tax Refund

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Let’s talk about the following Regulation: 26 CFR § 301.6402-2 Claims for credit or refund (b)  Grounds set forth in claim. (1) No r...
Monday, May 12, 2025

Recurring Proposal For Estate Beneficiary’s Basis In An Asset

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There is an ongoing proposal in estate taxation to require the use of carryover basis by an inheriting beneficiary. I am not a fan. Ther...
Sunday, October 31, 2021

A Winter Barge and Depreciation

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  The question comes up with some frequency: when is an asset placed-in-service for tax purposes? Generally one is talking about depreciat...
Saturday, June 22, 2019

Like-Kind Exchange? Bulk Up Your Files

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I met with a client a couple of weeks ago. He owns undeveloped land that someone has taken an interest in. He initially dismissed their ov...
Sunday, February 18, 2018

An Engineer Draws A Tax Penalty

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We have spoken in the past about clients I would not accept: one with an earned income credit, for example. The tax Code requires me to g...
Thursday, August 21, 2014

Why is Kinder Morgan Buying Its Own Master Limited Partnerships?

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I am reading that Kinder Morgan, Inc (KMI) is restructuring, bringing its master limited partnerships (MLPs) under one corporate struct...
Saturday, February 15, 2014

When Can You Take That Deduction?

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Sometimes the most mundane things can cause a tax issue. For example, an asset must be “placed in service” before one can claim deprecia...