Category: Tax Deduction

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…

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…

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…

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…

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…

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…