Separating the ownership of a business’s real estate from the business isn’t always advisable. But it might be worthwhile in some situations.
With real estate prices up in some markets, the “like-kind” exchange strategy may be attractive if you want to sell commercial or investment real estate.
If you’re selling your principal residence, some or all of the profit may be tax free. It depends on your home sale profit and your income. Here are the basic rules.
When you sell your home, you’ll pay tax (or avoid it) based on the “basis” of the property. Here’s how to determine yours.
Amid the COVID-19 pandemic, many employers are looking for tax-advantaged ways to help their employees with additional expenses incurred as a result of the pandemic. Section 139 of the Internal Revenue Code provides the answer. On March 13, 2020, President Trump declared COVID-19 a national disaster under the Robert T. Stafford Disaster Relief and Emergency[ … ]
The opportunity zone fund provision that was included in the 2017 Tax Cuts and Jobs Act has created significant hype in the business community, especially within the real estate industry.
If you are an owner of a partnership or Limited Liability Company interest, you may wonder why your K1 shows allocations of debt. Understanding how debt is allocated can also help you understand how this allocation affects your ability to take losses on your tax return. To determine your tax basis, start with the initial[ … ]