IRS Section 1245 determines how certain types of property are taxed upon sale. Specifically, it deals with recapturing depreciation on personal property and specific kinds of real estate. When ...

Many farmers are considering selling their land this year due to rapid appreciation in the value or to escape any possible capital gains tax increases. However, many of them also plan on deferring the ...

Depreciation recapture taxes gains from selling depreciated property as ordinary income, reclaiming prior tax benefits. If you’re a business owner, you’ve probably bought at least some property to use ...

Gain from a couple’s disposition of agricultural property could not be deferred, even though the property was relinquished in a like-kind exchange that was properly executed, the Tax Court held. The ...

Cost segregation and 1031 like-kind exchanges are two of the most valuable tax planning strategies available to commercial real estate investors. Through proper planning, both tax-deferral techniques ...

I’m in the specialty tax business, and I get calls on a daily basis from CPAs and real estate owners who are concerned that the reallocation of tax basis to “personal property” as part of a cost ...