There are a couple tax bills that have been in the works in 2021 that may have a large effect on taxpayers in upcoming years. The two bills that will enact changes are: The Bipartisan Infrastructure Bill (Infrastructure Investment and Jobs Act), signed into law by President
First, the Big Picture In 2017, the Tax Cuts and Jobs Act (TCJA) made a significant change in a taxpayer’s ability to defer gain under the like-kind exchange rules of Code Section 1031 – including narrowing the applicability of section 1031 to an exchange of real property. That property had
As the end of 2020 looms large and year-end tax planning is in full swing, businesses and organizations in virtually every industry have been struggling with unanswered questions about PPP loans – loan forgiveness, deductibility of related expenses, timing of loan forgiveness applications, and the impact on taxable income for
This blog is part of an ongoing series highlighting tips and strategies that could help you benefit from or better manage your real estate interests. Be sure to check back to our Real Estate blog frequently to learn more. Did you Know: Self-Rentals Did you know that rental income to
This blog is part of an ongoing series highlighting tips and strategies that could help you benefit from or better manage your real estate interests. Be sure to check back to our Real Estate blog frequently to learn more. Read Part one here. Did you Know: Partnership Representatives Did
This blog is part of an ongoing series highlighting tips and strategies that could help you benefit from or better manage your real estate interests. Be sure to check back to our Real Estate blog frequently to learn more. Did you Know: Interest Expense Limitations Did you know the Tax