Upcoming Talks and Presentations

The directors at MS Consultants keep busy speaking at a variety of professional associations, conventions, client offices, and other sites. If you'd like one of our experts to speak to your firm, organization, or event, please contact us today!

Upcoming Presentations, Lectures, and Conferences

May

Real Estate Updates

5/9, Boston MA

David Fabian will be speaking with the Massachusetts Society of CPAs regarding a wide range of real estate taxation issues, including cost segregation, depreciation, the new repair regulations, and energy-efficient tax incentives.

Tax Depreciation Course #201 - A Baker's Dozen of the Most Common Issues We See when Reviewing Tax Depreciation Errors

5/16, Webinar, Click Here to Register

Working with 300 CPAs nationwide, MS Consultants sees every tax depreciation approach possible – both good and maybe not so good. With this course, Roger Upton will look at 13 of the most common issues we see when reviewing depreciation records, and explain how to avoid these issues in the future.

This course is a response to some of the most frequently-asked questions we receive from CPA clients throughout the last tax year, and several requests to offer training for their tax preparers. Please feel free to forward this invitation to your firms’ tax preparers, we will offer answers to questions that even the most experienced staff may find surprising.

CPE Credits: 1
Delivery: Group Internet Based
Field of Study: Taxation
Level: Basic
Prerequisites: None

Learning Objectives - After completing this program, participants will:

Be able to determine the correct depreciation life to use
Be familiar with short tax year depreciation rules
Understand the 80/20 rule for mixed use property
Know which records you should be keeping in a permanent file

Cost Segregation & Repair vs Capitalization

5/16, 9AM - 5PM, Marlboro, MA

Click Here for Registration Form or Click Here for More Information

MS Consultants' Phil Mann and Jeff Hiatt give an full-day presentation on cost segregation, repair vs. capitalization, and other tax issues.

On December 23, 2011, the IRS issued the long-awaited Repair vs. Capitalization regulations that will have significant impact on a vast majority of taxpayers. While the IRS has delayed mandatory implementation of the regulations until 2014, many taxpayers will benefit from implementing the new rules in 2012 and 2013. The seminar will provide a detailed overview of the new regulations and revenue procedures and examples of how taxpayers can benefit from the new rules. It will also explain how the new rules will require additional record keeping and reporting on the part of many taxpayers and practitioners.

The American Taxpayer Relief Act of 2012 extended a number of “bonus” depreciation provisions through 2013. Some of the bonus provisions were set to expire in 2011, while others were to expire in 2012. In addition, the limit on 179 expenditures was increased to $500,000 and the 179 deduction for qualified leasehold improvements of $250,000 was extended through 2013. The seminar will explain the new rules and provide many examples to maximize depreciation write-offs under the new act.

Finally, the seminar will tie-in how cost segregation studies, the repair verse capitalization rules and the extended bonus depreciation rules can reduce a taxpayer’s tax liability by implementing the strategies discussed in the seminar.

June

Cost Segregation Studies and Energy Incentives

6/3, Boston MA, Click Here for More Information

A 1-day seminar (8 credits) led by Philip Mann, CPA. Topics include an in-depth analysis of how cost segregation studies are completed along with an analysis of the applicable tax laws, court cases, and IRS rulings that impact the depreciable lives of the vast majority of assets. The seminar also includes a review of the most common energy tax incentives such as the S 179D Commercial Building Deduction (for both commercial building owners and designers of government owned buildings) and the 45L Energy Efficient Home Credit (apartment building owners also are eligible) plus some often overlooked ones. In addition, the seminar will include various tax planning techniques to maximize the above with the current depreciation, bonus depreciation, and S 179 expense rules enacted by Congress with the last four tax acts. The last four tax acts have created some great planning opportunities and some potential pitfalls for a great many taxpayers, and this seminar will help attendees to sort through the maze.

Cost Segregation Studies and Energy Incentives

6/18, Woburn MA, Click Here for More Information

With the uptick in the economy, and the new depreciation and capitalization rules enacted, cost segregation studies provide taxpayers with an opportunity to maximize deductions as assets are placed in service. This seminar will discuss the current IRS rules and regulations and courts cases that impact the depreciable lives of the vast majority of assets. The course will also discuss the types of properties eligible for cost segregation studies and provide and in-depth overview of how studies are performed. On December 23, 2011, the IRS issued the long-awaited Repair vs. Capitalization regulations that will have significant impact on a vast majority of taxpayers. While the IRS has delayed mandatory implementation of the regulations until 2014, many taxpayers will benefit from implementing the new rules in 2012 and 2013. The seminar will provide a detailed overview of the new regulations and revenue procedures and examples of how taxpayers can benefit from the new rules. It will also explain how the new rules will require additional record keeping and reporting on the part of many taxpayers and practitioners. The American Taxpayer Relief Act of 2012 extended a number of “bonus” depreciation provisions through 2013. Some of the bonus provisions were set to expire in 2011, while others were to expire in 2012. In addition, the limit on 179 expenditures was increased to $500,000 and the 179 deduction for qualified leasehold improvements of $250,000 was extended through 2013. The seminar will explain the new rules and provide many examples to maximize depreciation write-offs under the new act. Finally, the seminar will tie-in how cost segregation studies, the repair verse capitalization rules and the extended bonus depreciation rules can reduce a taxpayer’s tax liability by implementing the strategies discussed in the seminar.

Cost Segregation & Repair vs. Capitalization

6/20, New England Graduate Accounting Studies Conference, Providence, RI Click Here for More Information

Jeff Hiatt and Dave Fabian will speak on cost segregation and the new repair vs. capitalization regulations.

Adopting Early May be the Smart Choice! Plus - Depreciation Enhancements Under ATRA 2012

6/26, Massachusetts Society of CPAs, Chelmsford, MA Click Here for More Information

The IRS’ new repair vs capitalization regulations are complex, and properly applying them to clients’ unique situations can be a daunting task for even the most experienced tax professionals. With tax season 2012 drawing to a close, the pressure is on to figure out whether your clients should adopt these regulations early or wait for mandatory adoption in 2014. In this seminar, Phil Mann will take an in-depth look at the new regs, as well as shed light on who would benefit from early adoption.

Over the last 18 months, the IRS regulations dealing with tangible property have changed quite a bit. On December 23, 2011, the IRS issued the long-awaited Repair vs. Capitalization regulations that were to have significant impact on a wide range of industries. The new rules which were to be effective for tax years beginning in 2012 were far-reaching and would affect almost all taxpayers who own businesses or real estate. The complex temporary regulations were intended to clarify how to treat expenditures under Code sections 162 and 263, as well as a host of other issues. Then, in March 2012, the IRS issued Revenue Procedures 2012-19 and 2012-20 that explained the methods by which taxpayers could obtain the IRS’s automatic consent to change the accounting methods provided for in the new regulations.

Finally, in response to the widespread confusion and frustration caused by the new regulations, on November 20, 2012 the IRS issued Notice 2012-73 stating they plan on finalizing the regulations in 2013 for tax years beginning in 2014. This is to allow taxpayers and their professionals more time to learn and understand the rules than the original 2012 implementation date.

However, taxpayers can choose to apply these regulations for tax years beginning in 2012. Taxpayers who would have benefited under the original 2012 implementation date should consider applying the regulations in 2012. Below are examples where taxpayers could and should apply these regulations in 2012 and 2013:

Taxpayers with structural components that have been removed over the past 15-20 years but are still being depreciated
Taxpayers who have remodeled or renovated in 2012 or who will remodel or renovate in 2013
Taxpayers who replaced structural components in 2012 or will do so in 2013
Taxpayers who would benefit from the "safe harbor rules" on recurring expenditures

The seminar will provide a detailed overview of the new regulations and revenue procedures and examples of how taxpayers can benefit from the new rules. We will also explain how the new rules will require additional record keeping and reporting on the part of many taxpayers and practitioners.

In addition, this seminar will look at the implications of The American Taxpayer Relief Act of 2012. The 154-page legislation covers a wide range of taxation issues, but taxpayers will find some good news:

50% Bonus depreciation is now extended through 2013
Section 179 limit enhancements ($500,000 limitation/$2,000,000 reduction limitation) now extended through 2013
QLI (bonus eligible), QRIP, & QRP 15-year life extended through 2013
Code section 45I tax credit of $2,000 per unit for apartment owners eligible and extended through 2013

§179D, §45L, R&D Tax Credits and Browfields Tax Credits

6/27, Massachusetts Association of Accountants - Woburn, MA, Click Here for More Information

Over the last several years, numerous federal and state tax incentives have been put in place to encourage energy-efficient building practices, to reward remediation of environmental contamination, and for the development of new technologies and procedures. Many taxpayers don’t realize how many buildings and activities qualify for these incentives. This course will remedy that oversight by examining IRC §179D and §45L energy efficient deductions and credits, Chapter 206 of the Acts of 1998 (better known as the Massachusetts Brownfields Act), and IRC §41, the Research & Experimentation Tax Credit.

§179D Deduction for Energy Efficient Commercial Buildings

Enacted as part of the EPAct of 2005, §179D encourages commercial building owners to maximize energy efficiency by providing an immediate tax deduction for the cost of energy-efficient property. While the requirements for certification are strict, more buildings qualify for some tax savings than most people realize. For example, nearly all commercial structures constructed to modern building codes will at least qualify for a partial deduction under §179D. Additionally, a provision of the code allows for architects and engineers of efficient government and municipal buildings to claim the credit, even without any basis in the project.

§45L Energy Efficient Home Credit

The 45L tax credit is a provision under the Internal Revenue code that allows owners of energy efficient residential buildings to receive substantial tax benefits: up to a $2,000 credit per residential unit. This provision can provide major savings for real estate owners—particularly those owning certain apartment buildings and other larger residential buildings. Under the American Taxpayer Relief Act of 2012, this credit was extended to December 31, 2013.

§41 Research & Experimentation Credit

§41 offers tax credits to companies that undertake activities which are technological in nature, help eliminate uncertainty, utilize a process of experimentation, and result in a new or improved business component. However, regulations finalized in 2004 make it much easier for a broad array of companies to qualify their activities, and provide much greater flexibility in satisfying record-keeping requirements. The result is that R&E tax credits aren’t just for high-tech companies anymore.

Massachusetts Brownfields Act of 1998

Finally, Brownfield tax credits were established in 1998 by the Commonwealth of Massachusetts. State law requires remediation of environmental contamination, even if the damage was caused by someone other than the current building owner. The Brownfield Act was created to act as a financial incentive for building owners to clean up and develop properties that may have otherwise remained unused due to the burdensome costs of cleaning up damage caused by a previous owner.

Many building owners, when faced with necessary remediation, simply roll those costs into total development costs and move on. However, if the environmental contamination was caused by a person or entity independent of the building owner, the law provides tax credits of up to 50% of the total cost of remediation—and allows taxpayers to look back up to 15 years to find qualifying expenditures.

Past Presentations, Lectures, and Conferences

April

Energy-Efficient Building Envelope Design and Construction

4/25, 8:30AM - 5PM, Hillside Garden Inn, Albany NY

Click Here for More Information or Click Here to Register

Dave Fabian will be speaking on energy-efficient tax incentives such as IRS §179D & §45L, as well as US Treasury Department Section 1603 at the Energy-Efficient Building Envelope Design and Construction Seminar in Albany, NY.

January

Webinar: Tax Year 2012: What Should you be Doing—or not Doing—for Your Clients

1/26, 11AM - Click Here to Register

MS Consultants' Roger Upton gives an encore presentation of his in-depth look at the new tax landscape. With the recent passing of the American Taxpayer Relief Act of 2012 (ATRA), we now have over 600 pages of new tax law (including the Affordable Healthcare Act and the temporary repair regulations) that affect 2012, 2013, and beyond. The question is now: how do we best apply all of these changes for our clients who own real estate and fixed assets?

In this one-hour free webinar, we will help you answer this question by covering several important issues, including:

• What are the real tax rates that our clients will be facing in 2013 and beyond?
• Is electing bonus depreciation and/or Sec. 179 a good thing to do in 2012?
• Does being a real estate professional really protect your clients from the changes under the Affordable Healthcare Act? (Hint: not always...)
• While the repair regulations have been postponed until 2014, what repair elections should my clients consider making in 2012 or 2013?

Webinar: Tax Year 2012: What Should you be Doing—or not Doing—for Your Clients

1/18, 2PM - Click Here to Register

Join MS Consultant's Roger Upton for an in-depth look at the new tax landscape. With the recent passing of the American Taxpayer Relief Act of 2012 (ATRA), we now have over 600 pages of new tax law (including the Affordable Healthcare Act and the temporary repair regulations) that affect 2012, 2013, and beyond. The question is now: how do we best apply all of these changes for our clients who own real estate and fixed assets?

In this one-hour free webinar, we will help you answer this question by covering several important issues, including:

December

OSCPA MEGA Tax Conference

12/6-7, Columbus OH

Join MS Consultants at OSCPA's MEGA Tax Conference in Columbus. Find information on all current tax topics and chat with our partners about Cost Segregation, repair vs. capitalization, or any other real estate taxation issue!

Click here for more information or to register for the conference.

November

59th Tax Institute - University at Buffalo School of Management

11/1/12, 10:30 AM, Buffalo NY

Phil Mann and Dave Fabian discuss the full range of real estate taxation issues: Cost Segregation, energy-efficient tax incentives, and the complex repair vs. capitalization regulations.

Click here for more information.

AICPA Real Estate Conference

11/5-7, Las Vegas NV

Join Dave Fabian and Roger Upton in sunny Las Vegas for the AICPA's annual Real Estate Conference. Click here to register or learn more.

2012 Real Estate Law Institute - Cleveland Bar Association

11/8/12 - 2:45 PM, Cleveland OH

Dave Fabian will join the panel "Making Dirt Pay Under the Tax Code: the 2012 Regulations on Capital Improvements vs Expenses; Energy Credits; Cost Segregation and Proposed Lease Accounting Rules."

Click here to register or learn more.

Moore Stephens 2012 Fall Tax and Audit Conference

11/11-13, Orlando FL

Phil Mann and Dave Fabian will be speaking on the new repair vs. capitalization regulations. To register, click here.

October

Pacific Tax Institute

10/29-30, Seattle WA

Roger Upton will be exhibiting at this year's Pacific Tax Institute in Seattle. He'll be focusing on the new repair vs. capitalization regulations,

Click here for more information.

September

Half-Moon Tax Seminar

9/18/12, 8AM, Natick, MA

Dave Fabian speaks about energy-efficient tax credits, deductions, and grants (including §179D, §45L, ARRA section 1603, and Federal Business Energy Investment Tax Credits).

Cleveland Accounting Show

9/24-25 - I-X Center, Cleveland OH

Come say hello to the guys at the Cleveland Accounting Show. We'll be exhibiting and giving out information on repair vs. capitalization, Cost Segregation, and energy-efficient tax savings.

Presentation - Depreciation, Cost Segregation, & More

Philip Mann and Dave Fabian will be speaking at several locations throughough the month on a variety of real estate tax issues, including the basics of depreciation, cost segregation, energy efficient credits and deductions, as well as the current repair vs. capitalization regulations.

July

Webinar - Making $ and Sense of the New Tangible Property Regulations and Procedures

In this free webinar, Roger Upton, one of the nation's leading experts on repair vs. capitalization issues, will cover everything you'll need to know to make $ and Sense of these changes, including 6 important Takeaways for you and your tax paying clients.

June

Presentation - New Repair vs. Capitalization Regulations

6/15/2012, 9:00-11:00AM, Randolph, MA

Philip Mann will be speaking to the Massachusetts Society of Certified Public Accountants about the IRS' new Repair vs. Capitalization regulations.

More information, including registration details, can be found here.

May

Seminar Lecture - Understanding Tax Benefits of Energy Efficient Upgrades

5/10/2012, 8:30 AM - 5:00PM, Manchester NH

David Fabian will be speaking on energy-efficient tax incentives such as IRS §179D & §45L, as well as US Treasury Department Section 1603 at the Energy-Efficient Building Envelope Design and Construction Seminar. Click here for the seminar agenda.

Seminar - New Repair vs. Capitalization Regulations

5/31/2012, 10:00AM-12:00PM, Boston, MA

Philip Mann will be speaking about the IRS' new Repair vs. Capitalization regulations.

April

Lecture - Pennsylvania Bar Institute

4/3/2012, Time Unknown, Philadelphia PA

Philip Mann speaking to the Pennsylvania Bar Institute.

Webinar - New IRS Regulations on Repair vs. Capitalization

4/25/2012, 2 PM (Eastern Time)

Roger Upton updates his immensely popular webinar on Repair vs. Capitalization with the recently-issued Revenue Procedures concerning how taxpayers must address repairs.