This is how we can help!

Business Valuation

Understanding the value of your business and how your decisions can affect that value are important for the future of your business and your cash flow. Talk to our experts about appraisal services to optimize your financial structure.

Cost Recovery

Maximizing depreciation expense and making proper determinations of capital vs. expense is crucial to leveraging your real estate investment in the most advantageous way. Cost segregation studies, fixed asset reviews, and repair and maintenance analyses are all ways in which Lurie can assist!

Cybersecurity

Data breaches, hacking and cybersecurity issues have been front and center in the news recently, and it won't diminish in the near term. Today’s hackers are much more sophisticated and are hyper-wise to common security measures. We can assist you in evaluating your cyber security profile, and develop processes to keep you safer in the future.

Interest Limitations

The amount of interest expense that can be deducted on tax returns has been limited by the Tax Cuts and Jobs Act. With many real estate entities being highly leveraged, interest expense can be a major deduction relied upon come tax time. This limitation has generated conversations on potential options like making a real estate entity election or even restructuring.

Real Estate Investment Trusts (REITs)

Real estate investment trusts can be a way to add both growth and income to your portfolio, while adding diversification as the same time. You should know, however, that REITs are not the same as other dividend stocks, and to understand the basics.

Revenue Recognition

The Financial Accounting Standards Board (FASB) issued a new accounting standard for revenue recognition. The new rules aim to increase comparability and transparency across all industries. The result, however, is that it may require you to make significant changes to how and when you record revenue.

Navigating the Audit

In the past, this provision allowed for a 15-year recovery period for nonstructural improvements made to a building that was at least three years old and subject to a lease. With the desire to simplify the tax code, the Tax Cuts and Jobs Act (TCJA) eliminated this classification in lieu of a simplistic qualified improvement property classification.

Gain Deferral

Diversifying a portfolio may involve trading properties or looking for other areas of investment. Getting rid of an asset, however, may trigger tax consequences; especially if you are selling at a gain. Proper planning can help mitigate the current tax impact.

Your Day to Day Accounting

(YourBooks)
A potential benefit from the Tax Cuts and Jobs Act lies in Opportunity Zones. This provision allows for the designation of certain areas throughout the country as Opportunity Zones, and by investing capital gain into these zones through designated funds, these lower-income and up-and-coming communities could see an influx of capital due to the tax benefits for the investors in the Funds.

Tax Services

The removal of the qualified restaurant property classification for depreciation purposes by the Tax Cuts and Jobs Act has the potential for significant negative impact on restaurant owners.

Lurie, LLP has deep expertise in a wide range of services. Contact an advisor to learn more.

Meet Your Team

Julie Helms, CPA

Director, Specialty Tax Services

Nate Shubert, CPA

Partner, Tax Services

Joan Haug, CPA

Manager, Entrepreneurial Services

Bobbi L. McKechnie, CPA

Manager, Tax Services

Matthew M. Almer, CPA

Manager, Tax Services