New IRS Relief for §163(j) Elections
On March 18, the IRS issued Revenue Procedure 2026-17. This guidance allows taxpayers to withdraw certain elections that were previously treated as irrevocable.
The relief applies to taxpayers who elected to be: a real property trade or business, an electing farming business, or an excepted regulated utility trade or business. Eligible taxpayers may amend their 2022, 2023, and 2024 tax returns to revoke these elections.
Interim Guidance on 100% Bonus Depreciation Creates Opportunities
The IRS released Notice 2026-11, which explains how taxpayers can use the permanent 100% bonus depreciation deduction starting on January 19th, 2025.
How to Turn Self-Rental Losses into Tax Savings
When business owners buy or build a property for their business, they often set up a separate entity (usually an LLC) to own the building and land
Your Guide to Cost Segregation
Tax planning can often feel overwhelming, especially for real estate owners trying to navigate a maze of strategies to minimize their tax liability. One tool that’s both powerful and underutilized is cost segregation.
