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Understanding Taxes on Real Estate Gains

RogerRossmeisl

Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from indirect ownership of real estate via a pass-through entity such as an LLC, partnership or S corporation.

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Advantages and Disadvantages of Claiming Big First-Year Real Estate Depreciation Deductions

RogerRossmeisl

Your business may be able to claim big first-year depreciation tax deductions for eligible real estate expenditures rather than depreciate them over several years. 179 deduction can be claimed for real estate qualified improvement property (QIP), up to the maximum annual allowance. But should you?

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How Section 1231 Gains and Losses Affect Business Asset Sales

RogerRossmeisl

Operating businesses typically dont own capital assets, The post How Section 1231 Gains and Losses Affect Business Asset Sales appeared first on Roger Rossmeisl, CPA.

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The Tax Break Commercial Real Estate Investors Might Need After COVID-19

Withum

The COVID-19 pandemic has had a dramatic impact on commercial real estate values, and in some cases resulted in property no longer being able to support the debt with which it is encumbered. How coronavirus hit commercial real estate – GREEN STREET ADVISORS. Business Tax Services. not insolvent).

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Defer Tax with a Like-Kind Exchange

RogerRossmeisl

Do you want to sell commercial or investment real estate that has appreciated significantly? One way to defer a tax bill on the gain is with a §1031 “like-kind” exchange where you exchange the property rather than sell it.

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Real Estate Business Provision and Initiatives Included in Bipartisan COVID-19 Agreement

KROST

This relief bill provides stimulus to individuals and businesses. As an industry impacted by the pandemic, real estate businesses can benefit from several key tax provisions in the package. Business Meals Deduction. Currently, the deductibility of business meals is limited to 50% of qualifying expenses.

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Update on Depreciating Business Assets

RogerRossmeisl

179 deductions can also be claimed for real estate qualified improvement property (QIP), up to the maximum allowance. The post Update on Depreciating Business Assets appeared first on Roger Rossmeisl, CPA.