Category Archives: Management Notes

Chris Henderson, VP Operations

From Thomson Reuters

The lame-duck Congress departed for its Thanksgiving recess with no clear path in sight for dealing with pressing tax issues: extension of the Bush tax cuts; resolving the estate tax problem; patching the alternative minimum tax (AMT); and dealing with extenders, i.e., deciding whether to retroactively extend some or all of the tax provisions that expired at the end of 2009 (including the research credit). What’s more, it looks as if the lame-duck Congress may not resolve these issues until the very last minute, i.e., right before Christmas. On November 18, Senate Finance Chair Max Baucus (D-MT) told members of the press to “get your snow boots on.”

The thorniest issue is the expiring Bush-era tax cuts. The Democrats (and the Administration) want to extend the tax cuts for “non-high-income” taxpayers only. The Republicans want to extend the tax cuts for everyone. (Note: For an article the discusses the pros and cons of raising the tax rates on high-income taxpayers as highlighted in a recent Congressional Research Service (CRS) Report, see RIA Newsstand e-mail 11/11/2010.) The problem is that neither party has the votes to prevail. That inevitably will lead to a compromise of some sort. One possibility is an across-the-board, but temporary, extension of the Bush-era tax cuts for individuals.

Bob McPherson, Director of Cost Segregation and 179D

Bob McPherson, Director of Cost Segregation and 179D

SourceCorp is pleased to announce that Bob McPherson recently joined the company as the Director of Cost Segregation and EPAct §179D. Both of these areas have experienced rapid growth during the past two years, and this level of growth is expected to continue. Bob’s cost segregation and §179D experience at BDO Seidman as well as his construction background will be invaluable as he leads our team in the coming years.

We are pleased to add Bob to the SourceCorp team and look forward to the opportunity to introduce him to you personally. Please feel free to contact Bob directly with any cost segregation or EPAct §179D issues.

Chris Henderson, VP Operations

I’m passing this along from our friends at the National Electrical Manufacturers Association (NEMA).  We’ve seen this proposal before, but it would be  tremendously beneficial  for designers of government owned green buildings if this legislation becomes law.

Yesterday, Senators Bingaman (D-NM) and Snowe (R-ME) introduced S. 3935, the Advanced Energy Tax Incentives Act.   This contains a number of incentives that have been advocated during the past two years, including Section 102 which increases the deduction from $1.80 to $3.00 (partial deduction increased to $1.00 per square foot per system) and modifies Section 179(D) to facilitate the ability of REITs (real estate investment trusts) to claim the deduction.

A summary of its provisions is available online at http://bingaman.senate.gov/policy/aetia_summ.pdf.

Here are the statements made yesterday:  “We must continue to ensure that the Tax Code contains well-designed incentives that will help us transition to an energy efficient economy,” explained Senator Bingaman.  “Our bill will significantly expand domestic clean energy manufacturing; help American businesses and families reduce their energy use and dependence on fossil fuels; and create thousands of jobs.  This is a common-sense, bipartisan proposal that deserves priority consideration.”

“For far too long our country’s energy strategy has prioritized the technologies of the past while our policy debate has languished in partisanship.  The world is moving ahead with bold action on innovative technologies and it is past time that we set a new course for how we use and think about energy,” said Senator Snowe.   “Energy efficiency has emerged as one of the most effective and expeditious initiatives that can be taken to preserve valuable resources for producers and consumers and I believe we can build upon the success of past tax credits with these critical energy efficiency tax incentives, which will spark innovation in our building and industrial sector and afford our constituents and businesses financial incentives to simultaneously reduce their energy bills and invest in our economy.  I appreciate working with Senator Bingaman on this comprehensive energy tax package and look forward to enacting these provisions into law.”

The 111th Congress is now in recess until November 15 when they will return for a week prior to Thanksgiving, and then Congress will return for a week in early December.    Whether energy tax legislation will be taken up remains to be determined.

Chris Henderson, VP Operations

You have choices.  Why choose SourceCorp as your business partner?

We believe in our Vision:

“As a company committed to trust and service, we will become the nation’s leading specialized business tax consulting firm as we maintain mutually beneficial, long-term relationships, provide value-creating resources, and act responsibly to help our clients and our team members achieve their goals.”

Our Vision means more to us than words on a page. We live the Vision — filtering our decisions through it to be sure we stay on course.

Since 1983, we’ve been committed to trust – we’re trusted by our staff and our clients.   When we make a mistake we admit it and do whatever it takes to make things right.

Many in the market are more interested in transacting short-term business.  We’re committed to developing long-term relationships.

We help our clients and CPA partners achieve their goals. These goals often include fending off competition, helping firms look great to prospective and current clients and increasing profitability by implementing successful engagements.

We take pride in hiring and developing people with exceptional character, skills and talent. These individuals grow in our culture where we place the highest emphasis on integrity, reliability, teamwork, and continuous improvement – doing the right thing no matter the cost.

In a short blog, I can’t adequately express  the pride this builds in our staff.  Our team knows that we are committed to treating our clients the way we want to be treated.

We believe in creating a positive work environment that attracts and retains staff through a combination of benefits, working conditions and company culture. We strive to create a work place that allows for a productive, efficient and fun environment.

You will begin to understand the SourceCorp difference when you get to know our staff and when you talk with our clients.  We invite you to become part of the SourceCorp difference.

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