Author Archives: Whittaker

Tax Benefits of Investing in Opportunity Zones

opportunity zones

For many business owners and investors, taxes are one of the largest obstacles to maximizing returns. That’s where Opportunity Zones come in—a program that can unlock significant tax savings while encouraging investment in underdeveloped areas across the country. But how exactly do you leverage commercial real estate investments in these zones to benefit from these

State Taxes Impact on Commercial Real Estate

real estate

 The Impact of State and Local Taxes on Commercial Real Estate: What Business Owners Should Know For businesses involved in commercial real estate, understanding the impact of state and local taxes is crucial to making informed investment and operational decisions. Whether you’re buying, selling, or managing properties, taxes play a key role in shaping profitability

How to Lease Commercial Property to my Business

What Are the Tax Implications of Leasing Commercial Property to Your Own Business? Leasing commercial property to your own business can be a smart financial strategy. It can offer both operational and tax advantages but, it’s important to understand the tax implications involved. To ensure you stay compliant with IRS rules and make the most

How are Operating Expenses Taxed On Commercial Properties

Operating Expenses

How Are Operating Expenses for Commercial Properties Treated for Tax Purposes? Operating a commercial property comes with a variety of ongoing costs. From utilities to property management fees, these expenses can add up quickly. However, the good news for commercial property owners is that many of these operating expenses are tax-deductible. With these deductions you

10 Potential Tax Breaks for Commercial Real Estate Owners

Commercial Real Estate

Commercial real estate owners have numerous opportunities to reduce their taxable income through various deductions. Understanding and applying these deductions can significantly improve profitability and cash flow. In this article, we’ll explore key tax deductions available to commercial property owners, helping you keep more of what you earn. Commercial real estate owners have numerous opportunities

Can I Use A 1031 Exchange For Commercial Real Estate

1031 Exchange

Unlocking the Potential of Commercial Real Estate with a 1031 Exchange If you’re an investor in commercial real estate, you’re probably always on the lookout for opportunities to maximize returns and defer taxes. One powerful tool that can help you achieve these goals is the 1031 Exchange. This strategy allows investors to defer paying capital

What are the tax implications of selling commercial real estate

Understanding Capital Gains Tax Implications When Selling Commercial Real Estate Selling commercial real estate can be a profitable venture, but it’s crucial to understand the tax implications associated with such a transaction. One of the most significant considerations is capital gains tax, which can impact the net proceeds from the sale. Here’s a comprehensive guide

Bonus Depreciation Sunsets in 2025, What Does That Mean?

bonus depreciation

Understanding Bonus Depreciation Deductions for 2023, 2024, and 2025 Bonus depreciation has been a powerful tool for businesses looking to accelerate their tax deductions. This provision allows businesses to immediately deduct a large percentage of the cost of eligible assets. Some of these assets such as machinery, equipment, and certain improvements, rather than depreciating those

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How to Maximize Your Education Savings

education

Maximizing Your Education Savings: A Comparison of 2023 Education Tax Incentives Investing in education is one of the most significant steps you can take for your future, but it’s no secret that the costs can be daunting. Thankfully, the U.S. tax code offers several education tax incentives designed to lighten this financial load. Understanding these

What Happens When I Sell a Vehicle My Company Owns?

Vehicle

When your company sells a vehicle it owns, there are several critical steps involved. One of the most important things to consider is the tax implications are particularly significant. The sale of a company-owned vehicle not only impacts your company’s financial records but also triggers various tax consequences. Continue reading or get in touch with

Posted in Tax