All Forum Posts by: Rohullah Sharifi

With the reinstatement of 100% bonus depreciation, many clients stand to benefit significantly through increased deductions and potential refunds. For those who placed qualified assets in service during early 2024, amending their returns could result in a reduced tax liability or a substantial refund. While IRS guidance is forthcoming, this change creates a strong opportunity for clients to enhance cash flow and optimize their tax position. As tax professionals, it’s our role to identify these opportunities, communicate the potential benefits clearly, and guide clients through the amendment process to ensure they receive the full value of this retroactive provision.

AI is a learning baby, which you need to training to help you 

Cost Segregation Pros & Cons

An area of interest to many new and current investors. However, what I noticed its explanation to them the proper pros and cons e.g. the recapture issue that 99% of them don't know about it. what could better and simple ways could you recommend as Tax Prep & professional during the consultation to clients. 

register and LLC, put it under it for asset protection. short term the flaw is the liability insurance.

first step to use a good attorney. 2nd that one of you actively participate to qualify for materially participation test, which can qualify you deduction as nature changes from passive income to active. maintain proper record e.g. log book etc...

rental is better then stock, which you can get passive income and if below the 150K threshold can get benefit of passive losses. you may use the Traditional/investment account & through Self Direct investment, buy it. 

do Airbnb in one of them as it's a "gray area" that you can benefit. ask your CPA to put it as "non-passive" that you can get the deduction and if loss towards W2. if want to keep the property for long term, do cost segregation, if you're in high tax bracket.

putting under an LLC, wont' be free of cost either, however important point is to hire an attorney to help you out. it's less of tax more of legal domain, would say.

thank you for sharing. This is good to know, however, vague, and hard to implement it. It Will increase cost for investor as well.