The recent downtrend in the price of Bitcoin and other cryptocurrencies combined with record high hash rates, increased competition, and higher electricity costs have squeezed profits and caused bankruptcies such as FTX and Celsius Network, among others. This has led...

Impairment Everything old is new again. Working our way through the current pandemic brings back memories of the previous financial crisis and its impairments. The rules for asset impairment remain the same this time around. ASC 360-Property, Plant, and Equipment or...

We wanted to provide an update to our April 10, 2020 article “Virtual Inspection approaches in the wake of the COVID-19 Pandemic”. Over the past two months we have completed a number of inspections using in part some of the following procedures: Provided clients with...

The COVID-19 pandemic has dramatically altered the appraisal environment. For Machinery and Equipment (“M&E”) valuations, one example of change during this challenging time will be a temporary hold on the ability to conduct on-site inspections or inventories as...

There has been much debate over the years concerning open-air parking structures and whether the structure, for depreciation purposes, should be depreciated as 39-year nonresidential real property or 15-year land improvements. The Internal Revenue Service Large and...

In a previous PLC article we discussed recent changes to the treatment of Qualified Improvement Property (“QIP”) as part of the CARES Act; most importantly that QIP placed in service in 2018 and after can now be considered 15-year Property and is eligible for 100%...

Under the Coronavirus Aid, Relief and Economic Security (‘CARES”) Act, Qualified Improvement Property (“QIP”) placed in service in 2018 and after can now be considered as 15-Year Property and is eligible for 100% bonus depreciation. QIP refers to interior improvements...

As reported in our December 2017 publication of Insights, the U.S. Senate proposed shortening the depreciation of long-lived real property from 27.5 & 39-year to 25-years, which was not outlined in the U.S. House of Representatives version of the “Tax Cuts and...

As part of the “Tax Cuts and Jobs Act”, the Senate is proposing shortening the depreciation of real property to 25-years. A shortening of the real property tax life from 27.5-years for commercial residential real estate and 39-years commercial non-residential real...

A Cost Segregation Study (“Study”) is often described as “a tax study to lower federal and state income taxes for newly constructed or acquired buildings and site improvements” or “the reclassification of real property from long-lived property to...