Category: Tax Deduction

Donate Building Materials -- February 8, 2021
Donation FAQ: Where Can I Donate Office Furniture?
Do you know what it takes to move office furniture? The logistics alone take weeks of planning, and then there’s the cost of hiring a moving company; you’re losing money the entire time. Why not donate office furniture to someone in need? Doing so will grant you tax benefits, which…
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Tax Deduction -- November 18, 2020
How 2021 Tax Changes Could Impact Your Donation
Year-end tax planning is upon us. Companies and individuals must use the next few valuable weeks to look at possible deductions, especially given the potential tax changes in 2021. With two runoff elections in Georgia, there is still a lot unknown regarding who will control the Senate. However, if the…
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Tax Deduction -- August 6, 2020
Demolition or Deconstruction- A Monetary Consideration
Demolishing a house can be tough on your wallet. The cost to tear down a house depends on the home’s size — a 1,000 square foot home will cost, on average, $9,000. A 2,000 square foot home is closer to $19,000, and it can get much more expensive depending on…
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Tax Deduction -- July 30, 2020
When Is Form 8283 Required?
When Is Form 8283 Required? Deconstruction is a great way to get a sizable tax write-off, but it has to be accounted for correctly and according to the IRS’s rules to ensure that you receive that benefit. IRS Form 8283 is the documentation required to complete your tax deduction related…
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Tax Deduction -- July 8, 2020
Definition of Fair Market Value for Charitable Donations
Charitable giving provides a justified reward for people seeking to donate. But with many different methods of donating, countless charitable organizations to donate to, and the need for accurate tax report filing, the crux of charitable donations often lies in the fair market value. Qualifying Organizations for Charitable Donation Tax…
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Tax Deduction -- June 18, 2020
IRS Form 8283
IRS Form 8283 and the Cost Basis—Loube v. Commissioner Have you decided to deconstruct and donate your real property? Taking your structure apart, piece by piece, and donating to a qualified 501(c)(3) charity can produce a significant tax refund. To ensure you not only get your refund, but also optimize…
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Tax Deduction -- August 17, 2018
How Deconstruction Can Help Win Demolition Services Contracts
For construction companies that offer demolition services, winning business and delivering high-quality service at an acceptable price keeps them afloat. When the quality or variety of services is undifferentiated between construction companies in the same region, construction companies become locked in a bidding war for buyers who choose the lowest…
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Tax Deduction -- July 26, 2018
Deconstruction and Green Demolition for Hotels
Hotels are practically omnipresent, and real estate investors, franchisees, and independent owners of hotels struggle to maintain a competitive advantage in the fast-paced and continuously renewing industry. With new hotels developing everywhere, owners and operators have to invest a great deal in order to ensure that their hospitality properties keep…
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Tax Deduction -- July 19, 2018
Deconstruction: The Environmentally-Friendly Path in Construction
When things go up, they have to come down eventually, and there are two ways this can happen: demolition or deconstruction. What’s the difference? Demolition is one of the most hazardous processes to our planet, whereas deconstruction aims to reduce the environmental footprint through recycling and reusing materials. Although demolition…
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