by Megan Kosciolek, MST | Aug 14, 2024 | Blog, Business, Tax, Uncategorized
Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from indirect ownership of real estate via a pass-through entity such as an LLC, partnership or S corporation. You may expect to pay Uncle...
by Megan Kosciolek, MST | Jul 11, 2024 | Blog, Business, Tax, Uncategorized
If you’re selling property used in your trade or business, you should understand the tax implications. There are many complex rules that can potentially apply. To simplify this discussion, let’s assume that the property you want to sell is land or depreciable property...
by Megan Kosciolek, MST | Jun 26, 2024 | Uncategorized
Buckle up, America: Major tax changes are on the horizon. The reason has to do with tax law and the upcoming elections. Our current situation The Tax Cuts and Jobs Act (TCJA), which generally took effect in 2018, made sweeping changes. Many of its provisions are set...
by Megan Kosciolek, MST | Jun 12, 2024 | Business, Tax, Uncategorized
The next quarterly estimated tax payment deadline is June 17 for individuals and businesses, so it’s a good time to review the rules for computing corporate federal estimated payments. You want your business to pay the minimum amount of estimated tax without...
by Megan Kosciolek, MST | May 22, 2024 | Blog, Tax
Let’s say you own one or more vacant lots. The property has appreciated greatly and you’re ready to sell. Or maybe you have a parcel of appreciated land that you want to subdivide into lots, develop them and sell them off for a big profit. Either way, you’ll incur a...
