Audit
KBKG provides Audit Support (T/F)
A tax deduction
What is a reduction of taxable income?
Depreciation
What is tax deduction that allows a taxpayer to recover the cost or other basis of a certain property. Spread over the life of the asset
A 1031x is made up of these 2 components
What is carryover and excess basis?
The managing Principal of KBKG
What is Gian Pazzia?
Audit support for residential properties is limited to this many hours
What is 8 hours?
A tax credit is
What is a dollar for dollar tax reduction?
Cost Segregation allows for this
What is a strategic tax planning tool that allows to accelerate depreciation
1031x receive bonus
What is sometimes? If the 1031x includes excess basis, then the excess will receive bonus while the carryover does not.
Nikki's favorite basketball team
What is the Boston Celtics?
Audit support for commercial properties is limited (T/F)
Taxable income
What is multiplied by your tax rate to determine how much tax you owe
Cost Segregation can be applied to these types of scopes
What is acquisition, new construction and improvements?
KBKG calculates 1031x basis numbers (T/F)
What is true? KBKG will have KROST calculate the carryover and excess basis for an additional fee.
Mark played this sport in college
Basketball
R&D full scope project audit support hour is calculated this way
What is 1 hour for every $2,000 of the fee?
Taxable liability
What is how much tax you owe?
Anyone can go through a cost segregation study (T/F)
What is true? Anyone can have a cost segregation study done. If they don't have a need for the deductions, it can be carried forward.
You can only exchange one property at a time in a 1031 (T/F)
What is false? As long as the properties are like-kind properties with equal or greater value you can do a 1031x
Sarin's ideal work hours
What is 7am-3pm?
Calc Only and Limited Scope R&D projects get audit support (T/F)
What is false?
If you are an S-corp with a tax deadline of 3/15 and want to extend, your new tax deadline
What is 9/15?
Unused deductions can be carried forward (T/F)
What is True?
A reverse 1031 exchange
What is a property exchange in which a replacement property is purchased without the sale of the current property
KBKG's first cost segregation study was sold in this year
What is 1999?