We had a reader ask the following question: “I’m thinking about selling a tract of timber on land that was gifted to me 7 years ago. What can I expect the tax consequences to be? I’m a self-employed ...

The second round of regulations regarding opportunity zone (OZ) investments generated questions as to the treatment of IRC Section 1231 gains that had been invested in a qualified opportunity zone ...

In order to qualify for opportunity zone tax benefits, an investor must reinvest capital gains into a qualified opportunity zone (QOZ) eligible investment vehicle within 180 days after recognizing the ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

When a corporation sells property, it can decrease the resulting tax burden several ways. Most business property sales can be calculated according to Section 1231, which allows a significant portion ...

The Tax Cuts and Jobs Act -- signed into law on December 22, 2017 — gave birth to a brand new provision: Section 199A, which permits owners of sole proprietorships, S corporations, or partnerships to ...

Over the past several years many companies pursued extremely aggressive growth, resulting in an accumulation of fixed assets on balance sheets. Many of these assets (especially land and buildings) ...