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By Jay A. Goldman, CPA and Daniel P. Thompson, CPA Does your dealership have a “captive insurance” company? Are you familiar with the new IRS reporting requirements? Auto dealerships have long enjoyed potential tax benefits by creating their own “captive insurance’’ companies for insuring losses, but questions are now being raised after the IRS late […]

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Wondering if cost segregation study is right for you? Consider the rate of return.

For example, one client said: “I am dropping more than $750,000 on my retail space renovation. Who cares if a cost segregation study accelerates depreciation from 39 years to 15 years or 7 years? The time value of money is next to nothing.”

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A net operating loss on your tax return isn’t all bad news


When a company’s deductible expenses exceed its income, generally a net operating loss (NOL) occurs (though of course the specific rules are more complex). If when filing your 2014 income tax return you’ve found that your business had an NOL, there is an upside: tax benefits. When a business incurs a qualifying NOL, the loss […]

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