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 ...

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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 ...

There are generally two kinds of gains and losses that must be included in the IRC Section 1231 netting process, as follows: (1) Includable gains and deductible losses on sales or exchanges of ...

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) ...