Careful Making Out Those Tax Extensions
The 4868 Automatic Extension form includes Part II where the amount of the year’s tax liability is determined.
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The Tax Professionals Blog · 446 articles
Taking Advantage of the Zero Tax on Long-Term Capital Gains
Taxpayers whose top marginal tax bracket is less than 25% enjoy a long-term capital gain tax rate of zero. As a result, the tax on any l...
Read moreRecaptured and Unrecaptured Real Estate Rental Section 1250 Gain
A frequent question we receive is the tax treatment of recaptured depreciation from the sale of real estate rental property. Gain from s...
Read moreTracing Rules That Apply For Deductibility Of Interest
One of the more complicated, misunderstood and often-violated tax issues is the interest tracing rules. Even though you can encounter so...
Read moreThe Tax Consequences of Return of Capital
Where a taxpayer receives payments for losses, damages, adjustment of purchase price, etc., for a capital asset (Sec 1221), those payment...
Read moreUsing The Research Credit To Pay Payroll Taxes
A little known tax benefit for new qualified small businesses is the ability to apply a portion of its research credit, but no more than ...
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