http://forum.ascsp.org/forum/ This is an XML content feed of; ASCSP Forums : Last 10 Posts Fri, 18 May 2012 15:53:26 +0000 Fri, 23 Mar 2012 16:06:03 +0000 http://blogs.law.harvard.edu/tech/rss Web Wiz Forums 9.68 30 forum.ascsp.org/forum/RSS_topic_feed.asp http://forum.ascsp.org/forum/forum_images/web_wiz_forums.png http://forum.ascsp.org/forum/ http://forum.ascsp.org/forum/forum_posts.asp?TID=39&PID=52#52 Author: ewalsh
Subject: ASCSP Commentary of AmeriSouth TC Memo
Posted: 23 Mar 2012 at 4:06pm

Please click the link below to access pdf.

uploads/6/ASCSP_Commentary_of_AmeriSouth_TC_Memo_-_3-22-2012.pdf]]> Fri, 23 Mar 2012 16:06:03 +0000 http://forum.ascsp.org/forum/forum_posts.asp?TID=39&PID=52#52 http://forum.ascsp.org/forum/forum_posts.asp?TID=38&PID=51#51 Author: ewalsh
Subject: ASCSP Provides Comments on Peco Foods case
Posted: 21 Mar 2012 at 9:32am

ASCSP Comments on Peco Foods, Inc. v. Commissioner ©
Contributing Author– Gian Pazzia, CCSP
While the law regarding the binding nature of an asset allocation agreement under IRC Section 1060 is well established, ASCSP notes the specific facts and circumstances of the Peco Foods case in making our recommendations below. In any event, the case suggests that discussions with an ASCSP Certified or Senior Member should be strongly considered before any comparable transaction is completed.
More: uploads/6/ASCSP_Commentary_of_Peco_Foods_Inc._vs_Commissioner_FINAL.pdf]]> Wed, 21 Mar 2012 09:32:49 +0000 http://forum.ascsp.org/forum/forum_posts.asp?TID=38&PID=51#51 http://forum.ascsp.org/forum/forum_posts.asp?TID=37&PID=50#50 Author: ewalsh
Subject: “Recent court case on cost segregation and apart
Posted: 13 Mar 2012 at 4:23pm

UNITED STATES TAX COURT
AMERISOUTH XXXII, LTD., AMERISOUTH TEXAS III, LLC, TAX
MATTERS PARTNER, Petitioner v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 21686-07. Filed March 12, 2012.
Matthew I. Root and Jennifer S. McGinty, for respondent.
MEMORANDUM OPINION
HOLMES, Judge: AmeriSouth XXXII, Ltd. bought an apartment complex
in 2003 for $10.25 million. The Commissioner argues that with minor exceptions
- 2 -
the apartment complex is one asset that AmeriSouth must depreciate over 27.5
years. AmeriSouth argues that, whatever the apartment complex may look like to an
untrained observer, to a tax adept it is not a single asset but a collection of more
than 1,000 components depreciable over much shorter periods. It is usually the case
that a shorter depreciation period benefits taxpayers. It would certainly benefit
AmeriSouth by generating hundreds of thousands of dollars’ worth of accelerated
depreciation deductions. We are tempted to say this is why AmeriSouth throws in
everything but the kitchen sink to support its argument--except it actually throws in
a few hundred kitchen sinks, urging us to classify them as “special plumbing,”
depreciable over a much shorter period than apartment buildings.

Click link for more:
uploads/6/Amerisouth.pdf]]> Tue, 13 Mar 2012 16:23:01 +0000 http://forum.ascsp.org/forum/forum_posts.asp?TID=37&PID=50#50 http://forum.ascsp.org/forum/forum_posts.asp?TID=36&PID=49#49 Author: ewalsh
Subject: ASCSP Comments on Repair vs. Capitalization Temp R
Posted: 06 Mar 2012 at 11:51am

February 24, 2012

To: Internal Revenue Service

Re: Comments on the recently issued “Guidance Regarding Deduction and Capitalization of Expenditures Related to Tangible Property” (Repair vs. Capitalization Temp. Regs.)
The American Society of Cost Segregation Professionals (ASCSP) represents the largest group of cost segregation professionals in the United States. The issuance of the Temporary Regulations has a direct correlation to the type of analysis that is conducted during a cost segregation study. ASCSP has a unique perspective that comes from a practical understanding of how building related expenditures may affect the use, condition, and life of property being repaired or improved as well as construction estimating and valuation techniques with respect to acquired properties.

To see the full report click on the link below.

uploads/6/ASCSP_Comments_on_Repair_vs._Capitalization_Temp_Regs_02-25-2012.pdf]]> Tue, 06 Mar 2012 11:51:12 +0000 http://forum.ascsp.org/forum/forum_posts.asp?TID=36&PID=49#49