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....
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....
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.
