The One, Big Beautiful Bill Act has arrived, and the new legislation brings opportunities – and some challenges – to the world of specialty tax incentives.  Our discussion will focus key legislative changes that impact depreciation deductions, the R&D Tax Credit, and the 179D Deduction.  We’ll explore the utility of each incentive in the design and construction communities, touching on eligibility criteria, application process, and strategies that can maximize benefit.  Time-limited opportunities will be highlighted. 

 Learning Objectives:

• Depreciation Opportunities
  • Cost Segregation
  • 100% Bonus Reinstated
  • Qualified Production Property: A New Asset Class
• 179D Deduction
  • Understanding Deduction basics, the economic benefit, and the unique reporting process
  • The impact of Prevailing Wage and Apprentice Requirements
  • The new tax return Form 7205
  • Claiming via allocation letter
  • Prospective sunset date under the One Big Beautiful Bill Act – and why is all is certainly not lost
• R&D Tax Credits
  • Understanding Credit basics, the economic benefit, and the unique reporting process
  • Changes to the Form 6765, with a focus on the new labor-intensive reporting requirements
  • The repeal of mandatory amortization of Sec. 174 expenses under the new tax law, as well opportunities to accelerate remaining unamortized costs

Timeline:

8:00 AM – 8:05 AM: Introduction

8:05 AM – 8:45 AM: Presentation from Bruce Johnson

8:45 AM – 9:00 AM: Q&A & Closing Comments

Bruce A. Johnson, CRE, MBA, Partner, Partner at Capstan Tax Strategies

In his role as Partner at Capstan Tax Strategies, Bruce works closely with commercial real estate owners, investors, and accounting firms to provide practical, creative and client-specific solutions. Bruce is well-versed in engineering-based tax strategies, guiding clients through the long-established benefits of cost segregation while introducing newer opportunities now possible under current legislation, including the recent Inflation Reduction Act of 2022.

 Bruce has a particular interest in energy-efficient building incentives and sustainability. As an engineer with significant experience in cost segregation, energy consulting, and capital improvement projects, Bruce understands the importance of leveraging fixed assets to enhance cash flow and meet business needs. Over the last 30+ years, Bruce has focused on helping clients achieve operational efficiencies to increase cash flow. In the last decade alone, Bruce has overseen the delivery of thousands of cost segregation studies and personally completed hundreds of assessments spanning a wide variety of property types.

 Bruce has served as a guest lecturer about cost segregation at Temple University and Baruch College and is a frequent speaker for professional organizations including AICPA and CCIM. His popular webinars can also be found on respected industry platforms such as CPA Academy, Surgent Professional Education, and Strafford Publications. Bruce tailors each presentation to the unique needs of the audience and communicates fluidly with groups of all sizes and backgrounds. Bruce has also been a featured presenter at the Association of Energy Engineers’ annual Globalcon events, where he has highlighted Capstan’s ability to blend savings with sustainability.

 Bruce is a senior member of the American Society of Cost Segregation Professionals (ASCSP) and an active member of the Counselors of Real Estate. He is also a member of the Association of Energy Engineers (AEE), and the International Council of Shopping Centers (ICSC), where he served as a guest speaker at ICSC University, School of Finance, Accounting and Lease Administration. Bruce has also served as a Board Member for the Philadelphia Chapter of NAIOP (National Association of Industrial and Office Parks), as Head of its Governance Committee, and as a member of the national NAIOP Tax and Finance Subcommittee.

Bruce is especially proud of his membership in the Alzheimer’s Association’s Accounting Industry Leadership Council. As a Council Member, Bruce works with other tax professionals to raise awareness and funds for support, research, and education. Bruce has facilitated several CPE webinars that introduce attendees to the disease warning signs, arming them with knowledge to assist clients if needed. Bruce is happily married with one daughter who is a graduate of Temple University and is gainfully employed! Bruce enjoys reading, cooking, and traveling with his girls. He is also a motorcycling enthusiast and is working on his black belt ranking in American Kenpo and Krav Maga.

 Bruce holds an MBA from the University of New Haven and a Bachelor of Science degree from the Massachusetts Maritime Academy.