Let's Talk Tax

From Bonus Depreciation to QPP: Planning Opportunities Under OBBBA

In this episode of Let's Talk Tax, host Dave McGuire [https://mcguiresponsel.com/team/dave-mcguire/] sits down with Mike Hammel, MAcc [https://mcguiresponsel.com/team/michael-hammel/], to unpack how OBBBA depreciation changes are reshaping tax planning for CPA firms, manufacturers, and commercial real estate owners. The discussion explores how 100% bonus depreciation [https://mcguiresponsel.com/blog/irs-notice-2026-11-what-cpas-need-to-know-about-bonus-depreciation-post-obbba/] planning is being impacted by binding contract rules [https://mcguiresponsel.com/blog/how-the-new-binding-contract-rule-affects-property-purchases-and-self-constructed-properties/], construction timelines, acquisition dates, and placed-in-service requirements — including why some taxpayers expecting full expensing may instead be limited to 40% bonus depreciation. Dave and Mike also break down how cost segregation studies [https://mcguiresponsel.com/fixed-asset-services/cost-segregation/] accelerate deductions by identifying 15-, 7-, and 5-year property within commercial buildings, and why pairing a building acquisition with future renovations can create additional opportunities through Qualified Improvement Property (QIP) [https://mcguiresponsel.com/blog/understanding-bonus-depreciation-and-section-179-deductions/]. The episode then dives into Qualified Production Property (QPP) [https://mcguiresponsel.com/blog/irs-interim-guidance-on-qualified-production-property-notice-2026-16/], one of the most talked-about manufacturing incentives under OBBBA. Mike explains how certain manufacturing-dedicated real property may now qualify for bonus depreciation, what areas of a facility may or may not qualify, and why updated regulations are helping CPA firms navigate prior gray areas. Additional topics include: * Manufacturing-focused tax incentives under OBBBA * Cost segregation [https://mcguiresponsel.com/fixed-asset-services/cost-segregation/] planning for new construction and acquisitions * Passive activity and deduction limitation considerations * 3115 look-back studies and retroactive cost seg opportunities * Why QPP is a current-year election and cannot be claimed later * How depreciation planning interacts with Section 174 [https://mcguiresponsel.com/blog/section-174-and-rd-credit-compliance-what-cpa-firms-must-do-before-year-end/] and NOL limitations * Why 2026 may become a major tax planning year for CPA firms Whether you advise manufacturers, real estate investors, or closely held businesses, this episode highlights why proactive depreciation planning is becoming more critical than ever. As always, check us out on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.youtube.com/@letstalktaxpodcast], ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.linkedin.com/company/letstalktax/], or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.instagram.com/letstalktaxpodcast]. For today's show notes and more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠mcguiresponsel.com/letstalktaxpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://mcguiresponsel.com/letstalktaxpodcast]. Thanks for listening. We will see you next Saturday, May 23rd, for the next Let's Talk Tax episode!

Top Growth Markets—and Why Office Vacancy Is Creating Hidden Opportunities

Host Dave McGuire [https://mcguiresponsel.com/about/meet-the-team/dave-mcguire] sits down with Matthew Barnhill [https://mcguiresponsel.com/about/meet-the-team/matthew-barnhill] , who leads McGuire Sponsel’s property tax [https://mcguiresponsel.com/fixed-asset-services/property-tax/] practice from the Dallas office, to discuss how elevated office vacancy rates in major growth markets are creating hidden property tax opportunities. From Dallas and Austin to Nashville, Charlotte, and Indianapolis, many office properties continue to face slower leasing activity and higher vacancy levels post-COVID. Matthew explains how commercial office buildings are commonly valued using the income approach, why assessors may still assume stabilized occupancy, and how that can lead to overvaluation and higher property tax liabilities. The conversation explores structural vs. temporary vacancy, how vacancy differs building by building, January 1 valuation dates, Class A vs. older office buildings, office-to-residential conversion scenarios, and how cap rates and net operating income influence assessments. Dave and Matthew also discuss how CPAs can use rent rolls, financial statements, and declining property performance to help identify reassessment opportunities for clients. Whether you're a CPA, commercial property owner, or real estate investor [https://mcguiresponsel.com/industries/real-estate/] , this episode breaks down how changing office market conditions may create opportunities to reduce property tax exposure. As always, check us out on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.youtube.com/@letstalktaxpodcast], ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.linkedin.com/company/letstalktax/], or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.instagram.com/letstalktaxpodcast]. For today's show notes and more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠mcguiresponsel.com/letstalktaxpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://mcguiresponsel.com/letstalktaxpodcast]. Thanks for listening. We will see you next Saturday, May 16th, for the next Let's Talk Tax episode!

What the July 6th R&D Deadline Means for CPA Firms

The July 6 Section 174 deadline [https://mcguiresponsel.com/blog/rd-credits-and-section-174-how-the-big-beautiful-bill-impacts-amended-returns/] is approaching fast, and for CPA firms, the decisions tied to Section 174A [https://mcguiresponsel.com/blog/irs-provides-guidance-on-2024-rd-expensing-rules-for-eligible-small-businesses/] could have major tax planning implications. In this episode of Let’s Talk Tax, host Dave McGuire [https://mcguiresponsel.com/about/meet-the-team/dave-mcguire] is joined by David Seibel, EA [https://mcguiresponsel.com/about/meet-the-team/david-seibel-ea] , to break down what this deadline means for eligible small taxpayers and how CPAs should be advising clients now. They cover the small taxpayer election for retroactively expensing 2022–2024 Section 174 costs, why the July 6 deadline does not override normal statute dates, and the alternative options available on the 2025 return—including one-year or two-year accelerated deductions or continuing amortization. The conversation also explores renewed attention around Section 41 R&D credits, stricter IRS documentation requirements for amended claims, expanded Form 6765 reporting [https://mcguiresponsel.com/blog/form-6765-section-g-how-the-big-beautiful-bill-raises-the-stakes-for-rd-documentation/] (including Section G), and the return of the Section 280C reduced-credit election. With major deduction decisions, state conformity questions, and planning opportunities all on the table, this episode is a must-listen for CPA firms navigating post-tax season strategy. As always, check us out on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.youtube.com/@letstalktaxpodcast], ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.linkedin.com/company/letstalktax/], or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.instagram.com/letstalktaxpodcast]. For today's show notes and more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠mcguiresponsel.com/letstalktaxpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://mcguiresponsel.com/letstalktaxpodcast]. Thanks for listening. We will see you next Saturday, May 9th, for the next Let's Talk Tax episode!

Using Specialty Tax to Build Your Book of Business with Alex Wilson, CPA, Yeo & Yeo

How can CPA firms turn existing client relationships into new growth opportunities? In this episode of Let’s Talk Tax, host Tim LeMasters [https://mcguiresponsel.com/about/meet-the-team/tim-lemasters] sits down with Alex Wilson, CPA, PFS, of Yeo & Yeo [https://www.yeoandyeo.com/about-us/our-people/alex-wilson] to explore how specialty tax for CPA firms can become a powerful tool for building your book of business. Rather than focusing solely on compliance, Alex shares how emerging leaders can uncover new value by listening for key client “triggers” like expansion, new product development, M&A activity [https://mcguiresponsel.com/international-tax/ma-transactions/] , and facility changes. These moments often reveal opportunities for services such as cost segregation [https://mcguiresponsel.com/fixed-asset-services/cost-segregation/] , R&D tax credits [https://mcguiresponsel.com/research-development-tax-credits/] , international tax [https://mcguiresponsel.com/international-tax/] , and location advisory [https://mcguiresponsel.com/location-advisory/] . The conversation also highlights the importance of proactive, year-round client engagement. From asking better questions to maintaining consistent touchpoints during and beyond busy season, Alex explains how CPA professionals can differentiate themselves and strengthen long-term relationships. They also address a common challenge: introducing new services. The reality? If you’re not bringing these ideas to your clients, someone else will. Whether you're looking to grow your book of business, elevate your advisory approach, or better identify specialty tax opportunities, this episode offers practical insights you can apply right away. As always, check us out on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.youtube.com/@letstalktaxpodcast], ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.linkedin.com/company/letstalktax/], or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.instagram.com/letstalktaxpodcast]. For today's show notes and more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠mcguiresponsel.com/letstalktaxpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://mcguiresponsel.com/letstalktaxpodcast]. Thanks for listening. We will see you Saturday, May 2, for the next Let's Talk Tax episode!

What Tax Season Revealed About Specialty Tax Opportunities in 2026

In the Season 3 kickoff of Let’s Talk Tax, hosts TJ Sponsel [https://mcguiresponsel.com/about/meet-the-team/tj-sponsel-ii] and Dave McGuire [https://mcguiresponsel.com/about/meet-the-team/dave-mcguire] reflect on what the completed tax season revealed for CPA firms and their clients—and why planning should accelerate immediately after April 15. They highlight key post-filing priorities, including guidance on Qualified Production Property (QPP) under IRS Notice 2026-16 [https://mcguiresponsel.com/blog/irs-interim-guidance-on-qualified-production-property-notice-2026-16/] , ongoing Section 174 changes [https://mcguiresponsel.com/blog/rd-credits-and-section-174-how-the-big-beautiful-bill-impacts-amended-returns/] , and the need to correct missed items on 2025 returns through timely amendments and potential accounting method changes. The discussion emphasizes expanding advisory services beyond compliance, including international tax [https://mcguiresponsel.com/international-tax/] and transfer pricing [https://mcguiresponsel.com/international-tax/transfer-pricing/] considerations, proactive property tax [https://mcguiresponsel.com/fixed-asset-services/property-tax/] management amid tight appeal windows, and location-based incentives [https://mcguiresponsel.com/location-advisory/] that must be pursued before projects begin. They also review the Section 179D energy-efficient building deduction [https://mcguiresponsel.com/fixed-asset-services/179d/] and its phaseout for projects starting after June 30, 2026—urging proactive planning as tax provisions and energy credits continue to evolve. As always, check us out on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.youtube.com/@letstalktaxpodcast], ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.linkedin.com/company/letstalktax/], or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.instagram.com/letstalktaxpodcast]. For today's show notes and more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠mcguiresponsel.com/letstalktaxpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://mcguiresponsel.com/letstalktaxpodcast]. Thanks for listening. We will see you Saturday, April 25, for the next Let's Talk Tax episode!