Now may be the time for savvy real estate investors to make a move. Strategy: Trade property you own for a “like-kind” property.
Small Business Tax
Section 179 vehicles should be a key part of your small business tax deduction strategies. Can Section 179 property fit in with your business tax strategies?
Let Business Management Daily help you get each and every rental property depreciation credit and business tax deduction you’re entitled to.
The IRS often questions whether a particular hobby constitutes a business or if it’s just a hobby. Under the “hobby loss rule,” you can’t deduct expenses in excess of income, so no loss is allowed. In the latest example, a collector of sports memorabilia claimed losses for his activity, only to strike out in the Tax Court.