Understanding taxes on real estate gains

If you’re the owner of a pass-through entity, the federal income tax rules for gains from the sale of business real estate or vacant land may be more complicated than you thought. Here’s a look at the issues. Continue Reading Understanding taxes on real estate gains

Cash or accrual accounting: What’s best for tax purposes?

Choosing between the cash method of accounting and the accrual method for tax purposes can impact your tax situation. But not all businesses qualify for both methods. Continue Reading Cash or accrual accounting: What’s best for tax purposes?

Do you owe estimated taxes? If so, when is the next one due?

Certain taxpayers generally must make quarterly estimated tax payments to avoid a penalty. Here are the rules, along with when the next payment is due. Continue Reading Do you owe estimated taxes? If so, when is the next one due?