In determining gain or loss on sale of a partnership interest, taxpayers are often surprised to find they have a taxable gain. This post reviews some typical examples of such a sale and how they are treated for tax purposes....
At KRS, we’ve been tracking tax reform legislation closely. The new Tax Cuts and Jobs Act amends the Internal Revenue Code (IRC) to reduce tax rates and modify policies, credits, and deductions for individuals and businesses. It is the most sweeping update to the U.S....
At KRS, we've been tracking tax reform legislation closely and are ready to assist you in your tax planning and preparation when it is finally signed into law. This post discusses some important changes to tax law real estate professionals need to know about. ...
If you invest - or are thinking of investing - in foreign real estate, as a U.S. taxpayer you need to be aware of how your holdings are treated for tax purposes - it's not the same as if you were investing in U.S....
A 1031 exchange affords significant tax benefits to property owners. When that like kind exchange is done in the form of a zero cash flow purchase, the buyer can access cash from the exchange without triggering gain recognition. Here's what you need to know to...
I had a taxpayer call me about the sale of a rental property. Here's the big mistake he made that cost him big $$$ because it couldn't be structured as a 1031 exchange....
[vc_row][vc_column][vc_column_text]Tenant-in-common ownership, sometimes called tenancy-in-common, is a method of holding title to property involving multiple owners. When a tenancy-in-common arrangement is created, each individual owner, called a "co-tenant" or "co-owner," owns an undivided interest in the property. Typical Tenant-in-Common Interest [caption id="attachment_2326" align="alignright" width="300"] Typical tenant-in-common agreements...
1031 exchanges,also called like-kind exchanges, offer tax benefits when structured properly.[/caption]
If you think this is one of those dry topics about taxes, think again. It’s important information for anyone selling a commercial real estate property who cares about being protected from capital gains taxes and growing their portfolio.
