If you’re the owner of a pass-through entity, the taxes on real estate gains from the sale of business real estate or vacant land may be more complicated than you thought. Here’s a look at the issues. Let’s say you own real estate that has been held for more than one year and is sold
Don’t let the holiday season keep you from taking important steps to reduce your small business taxes in 2021. Here are 3 tips.
Claiming significant first-year depreciation tax deductions for eligible real estate expenditures may be an option for your business, allowing you to accelerate deductions rather than spreading them out over multiple years. However, this decision is not as straightforward as it may appear, as there are important factors to consider. Qualified Improvement Property (QIP) For assets
Construction companies need to make the most of depreciation deductions that can reduce their tax bills.
You may benefit from the Section 179 depreciation tax deduction for business property if your business needs to buy equipment and other depreciable property.
Congress finally passed legislation that corrects a drafting error related to real estate qualified improvement property and first-year bonus depreciation.
The CARES Act includes several provisions that can help boost cash flow for construction companies (and other businesses) as well as reduce their tax bills.
The Coronavirus Aid, Relief and Economic Security (CARES) Act, which passed earlier in 2020, includes some retroactive tax relief for business taxpayers.
Let’s look at three issues that contractors should keep an eye on in light of the CARES Act: payroll, losses and qualified improvement property.
The CARES Act contains a beneficial change in the tax rules for many qualified improvement properties.