Corporate Headquarters
6000 Western Place, Ste 800
Fort Worth, TX 76107
817.732.5494

Regional Business Development Contacts:

Texas Gulf Coast Region:
Candace Willingham

Midwest Region:
Diane Smith

Northeast Region:
Jennifer Weston

Southeast Region:
David DeGrand

South Central Region:
Jennifer Chin

Pacific Northwest Region:
Laura Collins

Upper Midwest Region:
Al Schmitt

SourceCorp News Archive

Tax Deduction for Energy Efficient Commercial Buildings
If your clients own, or are lessees of, a commercial building and install property as part of the commercial building’s interior lighting systems, heating, cooling, ventilation, and hot water systems, or building envelope, they may benefit from the availability of substantial tax deductions … click here to learn more

L.A. passes a green building law to clean the air
Los Angeles embarked on one of its most ambitious projects to combat global warming on Monday, becoming the biggest city in the nation to impose green building rules that would potentially cut millions of tons of pollution over the next decade. In a unanimous vote, the City Council passed an ordinance requiring builders of large commercial and residential developments to adopt such measures as planting drought-resistant landscaping and using recycled materials and energy-efficient heating, cooling and lighting ...click here for more

Building Green Is Sustainable & Provides Tax Deductions
9 out of 10 cities anticipate requiring in the next year that new city buildings be energy efficient, healthy and environmentally sustainable. Your clients may be eligible for a tax deduction of up to $1.80 per square foot for improving the energy efficiency of their existing commercial buildings or if they design high efficiency into new buildings. The Energy Policy Act of 2005 includes a tax deduction for investments in “energy efficient commercial building property” designed to significantly reduce the heating, cooling, water heating, and interior lighting energy cost of new or existing commercial buildings...click here to learn more

Dealerships Can Now Group Vehicles – LIFO Pooling
IRS reverses course on dealership LIFO pooling after three decades. Confusion over which LIFO pool SUVs, mini-vans, and crossovers should be included in is finally over. With the release of Rev. Proc. 2008-23, auto dealerships may now...click here to learn more

Tax Stimulus Will Benefit Companies
Bonus depreciation legislation signed by President Bush on Feb. 13, 2008 helps businesses in two ways. It gives companies a 50 percent bonus deduction on new equipment ... click here to learn more

April 15, 2008
FOR IMMEDIATE RELEASE
Mack Powers Joins SourceCorp Professional Services as Vice President of Sales.
Fort Worth, Texas – SourceCorp Professional Services, the leading specialized tax services company in North America, today announced that Mack Powers has been hired as Vice President of Sales to lead the company’s national sales team. Mr. Powers brings extensive experience to the company and will assist SourceCorp clients by building a best-in-class national sales network and by serving on the SourceCorp Executive Management Team. Mr. Powers will be based in the company’s Dallas, Texas office. >>more

Vehicle Pool Benefits & Opportunities
IRS reverses course on dealership LIFO pooling after three decades Revenue Procedure 2008-23 - Vehicle Pool Method
Confusion over which LIFO pool SUVs, mini-vans, and crossovers should be included in is finally over. With the release of Rev. Proc. 2008-23, auto dealerships may now group all light-duty vehicles (cars, trucks and crossovers) in one LIFO pool. >>more

Lessen The Load of Rising Inflation

If walls could talk money; paying less federal income tax - Hidden within the walls, roof, plumbing, electrical system and many other aspects of your commercial building are yearly federal income tax savings waiting to be discovered.

263A Cost Capitalization: Are You in Compliance? - If your dealership or group of dealerships had gross sales of more than $10,000,000 per year for three years, you must comply with the Uniform Cost Capitalization rules.

Capitalization Relief - When the Tax Reform Act of 1986 introduced the idea of Uniform Capitalization, it left many of us scratching our heads and asking "Why?"

Conformity - The conformity issue that plagued auto dealers for so many years was settled -- Kudos went to to NADA's Peter Kitzmiller for his untiring and, ultimately, successful efforts.

Change in Treatment of Trade Discounts - Dealers receive trade Discounts (finance credits, advertising credits, fuel discounts, prep. and conditioning reimbursements, etc.) when they purchase new vehicles.

A Case Study: Change To The IPIC Method is Safe And Simple - Montana Electric Supply, in Billings, Montana, utilized a complicated Dollar Value, Double Extension LIFO method. That is, until it became increasingly difficult to account for technological change in their inventory...

Generate More Cash, Pay Less Tax With LIFO Accounting - Would you be surprised to learn that there is a substantial opportunity for profit existing within your current business inventory?

IRS Addresses Parts LIFO Woes with Rev. Proc. 2002-1 - Three years after the Mountain States Ford Truck Sales case went to the U.S. Tax Court, IRS finally addressed the parts LIFO concerns...

PICK IPIC - Are monthly or quarterly LIFO calculations burdensome or inaccurate? Do you spend a lot of time and effort generating your own inflation indexes?

Popular Stores Reaps the Benefits of LIFO Accounting - For any business with inventory, taking advantage of LIFO is simple, and a LIFO election doesn't interfere with the ordinary course of business.

Dealers Discover Tax Break in Previously-Capitalized Trade Discounts - IRS Provides Dealers with Significant Tax Deduction Opportunity