Posts Categorized: Tax


New Rules Finalized for Repair and Capitalization of Tangible Assets

If you currently own, purchase or acquire tangible property for business or rental purposes, new regulations issued in 2014 require additional compliance, but also provide additional opportunities for you to generate tax savings. Property affected by these new rules include: buildings, land improvements, equipment, machinery, materials and supplies. Virtually all business will be impacted by … Read More »

February 17, 2015 Posted in Tax

Cost Segregation

By Fred Solomon, CPA and Managing Partner and Giancarlo Laguercia, CPA & MST fsolomon@srgcpas.com  and glaguercia@srgcpas.com WHAT IS COST SEGREGATION? If you own real estate you need to know about cost segregation.  Cost segregation is a tax deferral strategy that generates immediate tax savings and thereby increases cash flow for real property owners.   The strategy … Read More »

June 19, 2013 Posted in Tax

Tax Law Changes Effective January 1, 2013

By Brian Gourlay, CPA, Partner bgourlay@srgcpas.com Now that Congress has made up its mind, we can provide a summary of the tax rules that will be in effect for 2013.  We’ll start with the bad news: a summary of the increase in tax rates (Federal and California), broken down by income levels.  Following that is … Read More »

January 2, 2013 Posted in News, Tax

Make the Gift And Keep It Too!

By Drew Grey, CPA, Partner dgrey@srgcpas.com We know that the per person gift tax exclusion, which is $5,120,000 in 2012, is scheduled to decrease to $1,000,000 on January 1, 2013.  We also know that the gift and estate tax rate, currently 35%, is scheduled to increase to 55% on January 1, 2013.  As a result, … Read More »

November 1, 2012 Posted in Estate Tax Planning, Tax

SELF-CANCELLING INSTALLMENT NOTES

By Drew Grey, CPA, Partner dgrey@srgcpas.com As discussed in previous blogs, all gift and estate tax planning involves the transfer of assets from parents to their heirs.  One principal challenge is to determine the technique to use to most effectively accomplish the transfer.  In that analysis a self-cancelling installment note (SCIN) will certainly be considered. … Read More »

October 20, 2012 Posted in Estate Tax Planning, Tax

PRIVATE ANNUITIES: ESTATE TAX MAGIC

By Drew Grey, CPA, Partner dgrey@srgcpas.com All estate tax planning involves moving assets from the parents to the children.  There are many ways to move the assets: the parents can give the assets; they can sell the assets; they can make a part-gift, part-sale.  The gift can be accomplished using an outright gift or a … Read More »

October 10, 2012 Posted in Estate Tax Planning, Tax

GRANTOR RETAINED ANNUITY TRUSTS

By Drew Grey, CPA, Partner dgrey@srgcpas.com A grantor retained annuity trust (GRAT) is a technique designed by Congress to help parents transfer assets to their heirs at a significantly reduced gift tax cost.  This is accomplished because the parents do not transfer the asset outright to the children.  Instead, the parents retain a stream of … Read More »

October 8, 2012 Posted in Estate Tax Planning, Tax

SALES TO GRANTOR TRUSTS

By Drew Grey, CPA, Partner dgrey@srgcpas.com In a previous blog we discussed how grantor trusts – which are ignored for income tax purposes – are powerful gift and estate tax planning tools.  The IRS unsuccessfully argued that they were gift tax loopholes.  Grantor trusts are so powerful that, combined with a promissory note, they are … Read More »

September 26, 2012 Posted in Estate Tax Planning, Tax