Part 3: Tax Planning for Real Estate Investors: Understanding Depreciation and Recapture
When working with clients on real estate investments, you will need to prepare them for a higher level of tax complexity. This might mean encouraging
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Recent blogs
Tax Basis for Inherited or Gifted Property: Implications for S Corporations and Partnerships
In a previous blog, we discussed tax basis—the amount that a taxpayer has invested in business assets, which determines the gain or loss when the
Debt Recourse and Tax Deductions for Partnerships and S Corporations
In a previous blog, we discussed how a shareholder in an S corporation or a partner in a partnership needs sufficient tax basis to claim
Overcoming Limits to Tax Deductions for S Corporation or Partnership Losses
Understanding tax basis is key to maximizing tax deductions, especially for shareholders or partners involved in an S corporation or partnership. Tax basis refers to
Business Losses and PPP Loans: Understanding Tax Implications for S Corp Shareholders
Business losses have become all-too common during COVID-19. Though new tax benefits have been introduced, understanding whether these will benefit a specific business can be
The Real Estate Tax Implications of California Prop 19
California Prop 19, also known as “The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disasters Act,” went into effect
Extensions to the Paid Sick Leave and Family Leave Credits in 2021
Employers will continue to see tax benefits for providing paid sick leave and family leave for the second and third quarters of 2021. The Families
Navigating Changes to the 2021 Dependent Care Credit
The Dependent Care Credit is available to taxpayers who pay someone else to care for a dependent under age 13 or to care for a
Understanding the 2021 Changes to the Child Tax Credit
Taxpayers who have children in their care should be aware that the Child Tax Credit has been changed for one year, effective for 2021. Here’s
Taking Advantage of Passive Losses
Over the last two weeks we have outlined a strategy to intentionally fail the test for material participation, for purposes of converting non-passive income to
The Section 1244 Small Business Stock Loophole
This week’s blog focuses on a loophole to the $3,000 deduction on capital loss losses. Businesses don’t always go as people hope they will. Unfortunately,