The final tangible property repair regulations are in full effect, yet many taxpayers are not in compliance or are missing opportunities to take full advantage of these new rules.
This webinar covers compliance requirements and potential tax planning strategies on both a retroactive and prospective basis.
The webinar also contains in-depth examples and real-life case studies. Participants will be better able to identify tax-saving opportunities and be in compliance with these new regulations.
Repair Regulations Overview and Practical Considerations:
Lester is a 15 year veteran in the tax specialty service industry. He is the leader of KBKG’s Fixed Asset Review Practice. He is a certified member of the American Society of Cost Segregation professionals, a group that he has been a part of since 2008. Throughout his career, Lester has completed cost segregation analyses on thousands of properties ranging from office space leasehold improvements to multi-billion dollar industrial complexes and hotel and resort projects. He has worked with many Fortune 500 companies, successfully representing his IRS and Financial Auditors’ claims. Prior to KBKG, Lester led the PwC Central Region Cost Segregation Center of Excellence, providing engineering-based Cost Segregation project management, oversight, and expertise to all other fixed assets teams throughout the U.S. and Canada. He was a recipient of the 2008 PwC Greater Chicago Market Chairman's Award for Outstanding Leadership. Lester was born and raised in Northwest Indiana and is the head of the KBKG Chicago Office. He earned a Bachelor in Construction Management from Purdue University.
Sumit Sharma is a Senior Manager at KBKG for the Cost Segregation Practice. Based in New York, he has over ten years of experience conducting Fixed Asset Depreciation reviews, purchase price allocations, Cost Segregation studies, Section 179D energy-efficient analyses, repairs/maintenance cost analyses, and pre-construction tax consulting services. Before joining KBKG, Sumit worked for six years as a tax manager with PricewaterhouseCoopers in their Tax Projects Delivery Group. His experience also includes five years at a boutique consulting firm where he was engaged in various fixed asset tax consulting projects. His technical knowledge spans various tax projects, and his experience includes a diverse mix of clients in multiple industries. Sumit earned his Bachelor of Engineering degree in Engineering Management from the Stevens Institute of Technology. He is an associate member of the American Society of Appraisers with a discipline in Machinery and Technical Specialties, and he is a certified Marshall & Swift appraiser.