A like-kind exchange tax strategy, also known as a 1031 exchange

The 1031 exchange tax strategy allows taxpayers to defer capital gains tax on the sale of investment or business property by reinvesting the proceeds into a like-kind property. By utilizing a 1031 exchange, individuals can preserve their investment capit

Real Estate Tax Questions Answered By Sanjiv Gupta CPA

A Comprehensive Guide to C Corporations: Formation, Governance, and Taxation

Learn everything you need to know about C Corporations, including how to form and govern them, their taxation, and the potential risks and challenges associated with setting up and operating a C Corp. Discover the advantages and disadvantages of choosing

Understanding Material Participation Tests: IRS Rules, Types, and Considerations

To establish their participation in an income-producing venture, taxpayers who have an ownership interest in it can receive credit for the work they do for the venture. They can do so by identifying the hours spent on the venture and the nature of work do

Understanding Resident, Non-Resident & Dual-Status Aliens for Tax Purposes

Confused about the tax implications of being a Resident, Non-Resident, or Dual-Status Alien in the United States? Read on for a clear explanation of these concepts, including examples and information about deductions and credits that each group may or may

Watch out for Depreciation Recapture

Depreciation recapture is an issue that can arise when you sell a property that you have been depreciating for tax purposes. When you depreciate a property, you are taking a deduction for the wear and tear on the property over time. However, when you sell