Discover how 1031 exchanges can be a game-changer for real estate investors, offering a strategy to defer capital gains taxes while reinvesting in like-kind properties. This guide dives into the mechanics, eligibility, and potential pitfalls of executing a successful 1031 exchange.
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- March 25, 2025
The IRS has announced that interest rates on tax overpayments and underpayments will remain unchanged for the second quarter of 2025. Individuals and businesses should take note of these rates, as they impact potential interest owed or earned on tax balances.
- March 24, 2025
If your nonprofit is facing a budget crisis and needs to cut costs, there are other possible ways to cut costs than laying off staff. Read more about possible solutions for your organization.
- March 20, 2025
When it’s time to consider your company's future, business succession planning can protect your legacy and successfully set up the next generation of leaders or owners. Business succession options have tax implications. Read to learn more.
- March 14, 2025
Navigating the fine line between repairs and improvements on your property upgrades can significantly impact your tax liabilities. Discover how the IRS classifies these expenses, explore key safe harbors, and learn strategies to maximize your tax benefits.
- March 6, 2025
For manufacturers, knowing product profitability for individual items is essential for strategic decision-making and long-term success. While total revenue can provide a sense of overall product performance, profitability analysis can deliver a clearer picture of which products contribute the most (and the least) to your bottom line.
- March 6, 2025
The Treasury Department has suspended the CTA filing requirement for U.S. businesses, signaling a major shift in compliance obligations. While the rule may still face legal challenges, domestic companies are no longer required to report beneficial ownership information—at least for now.
- February 28, 2025
Manufacturers often can benefit from state sales tax exemptions. However, available exemptions sometimes vary significantly by state, so manufacturers need to stay on top of available exemptions to avoid overpaying state sales taxes.
- February 26, 2025
As a business owner, you may be eligible to claim home office tax deductions that will reduce your taxable income. However, it’s crucial to understand the IRS rules to ensure compliance and avoid potential IRS audit risks.
- February 25, 2025
You may have heard about proposals to end taxes on tips. If you’re a business with tipped employees, you are required to adhere to a number of regulations and laws.
- February 24, 2025
Minnesota's new Paid Leave Program goes into effect on January 1, 2026. Employers should be aware of the new program - who is eligible, information on funding and benefit structure of the program, and their responsibilities, which include the initial wage reports that were due October 31, 2024.
- February 5, 2025
Offering a 401(k) plan to your employees is not just a perk—it's a significant fiduciary responsibility under ERISA that requires oversight and compliance to shield both the plan and its participants. You need to follow best practices for mitigating liability while securing your team's financial future.
- February 4, 2025
For 2025, inflation-adjusted changes were made to certain business tax limits. Here’s how much employees can contribute to their 401(k)s and FSAs this year, as well as other important business tax amounts.
- February 4, 2025
Gaming fundraisers are popular with nonprofits and their supporters. But before you plan your event, make sure you know the IRS rules regarding reporting gambling activities and paying any tax due.
- January 31, 2025
Nonprofits often struggle with properly handling the cost allocation of program expenses. Yet the process is critical because your supporters want to know how you use financial resources.