Business Tax Benefits
For decades, business owners have utilized Section 1031 of the Internal Revenue Code to defer taxes on the exchange of property used in their trade, business, or held for investment.
December 6, 2024
Skip to content For decades, business owners have utilized Section 1031 of the Internal Revenue Code to defer taxes on the exchange of property used in their trade, business, or held for investment.
When it comes to estate planning, business owners have unique considerations that go beyond personal assets. With the estate tax exclusion amount set at $13.61 million in 2024, understanding how
Owning a home offers significant financial advantages, especially when it comes to taxes. Understanding which expenses qualify for deductions can make a substantial difference in your year-end tax bill. This
For many business owners, maximizing tax deductions is a key strategy to reduce taxable income and keep more money in the business. Itemized deductions, particularly for state and local taxes
A like-kind exchange, commonly referred to as a 1031 exchange, is a powerful tool for business owners and investors to defer capital gains taxes on the sale of real estate.
As a business owner, there may come a time when you’re asked to serve as the personal representative (PR) of an estate, either for a loved one, a colleague, or
For business owners in the real estate industry, navigating the complex world of tax benefits can feel overwhelming. However, qualifying as a real estate professional can unlock significant tax savings
Owning rental property can be an excellent investment, but it comes with its fair share of tax implications. For business owners who are diving into the world of rental real
If you’re a business owner engaged in real estate, you’re probably familiar with the potential tax benefits of the Qualified Business Income (QBI) Deduction, which allows a deduction of up
As a business owner, staying informed about the tax implications of personal transactions—like the sale of your primary residence—can be crucial. The sale of a principal residence may seem straightforward,
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