NOTE: This article was originally published in the February 2023 issue of TRENDreport. We had a good run while it lasted! Although not an ideal situation for real estate as interest rates rise to curb high inflation, there is always a silver lining. Tax strategies are like the cycles in the economy. We must adjust[ … ]
Separating your business from its real estate
Separating the ownership of a business’s real estate from the business isn’t always advisable. But it might be worthwhile in some situations.
Important considerations when engaging in a like-kind exchange
Interested in a “like-kind” exchange of real property? Here are the basic rules.
The tax mechanics involved in the sale of trade or business property
The tax treatment of the sale of business assets can be complex. Here’s an overview.
Defer tax with a like-kind exchange
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.
Selling a home: Will you owe tax on the profit?
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.
Home sales: How to determine your “basis”
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.
Employer-Provided Disaster Relief & COVID-19
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[ … ]
Investing in Arizona’s Opportunity Zones
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.
Understanding Debt Allocation
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[ … ]
