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
Author Archives: Whittaker
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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
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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
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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
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Sep
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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
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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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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
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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
Advisory|Strategic Guidance|Value Building
How A Business Can Donate Inventory to Receive Tax Deductions
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Donating inventory can be a strategic move for businesses looking to manage surplus goods while supporting charitable causes. This process not only helps communities but also provides potential tax benefits. Here’s how businesses can donate inventory and what they need to know about tax deductions. Steps to Donate Inventory Identify Eligible Charitable Organizations: Ensure the
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Understanding the 529 Plan: A Comprehensive Guide A 529 plan is a tax-advantaged savings plan designed to encourage saving for future education costs. Named after Section 529 of the Internal Revenue Code, these plans are sponsored by states, state agencies, or educational institutions and offer significant tax benefits to contributors. Let’s delve into how these