Avoiding passive loss limitations on rental real estate losses
Jul 1, 2024 · Strategies for using the $25,000 offset for rental real estate losses can include keeping income within its phaseout range and contributing the loss activity to a closely held C corporation.
Like-kind exchanges of real estate: Back to basics - The Tax Adviser
Sep 1, 2024 · Editor: Rochelle Hodes, J.D., LL.M. The ability to defer taxes on exchanges of like-kind property dates back to the Revenue Act of 1921, P.L. 67-98.
Capitalized improvements vs. deductible repairs - The Tax Adviser
Oct 1, 2021 · Taxpayers generally must capitalize amounts paid to improve a unit of property. A unit of property is improved if the cost is made for (1) a betterment to the unit of property; (2) a restoration of the unit of property; or (3) an adaptation of the unit of property to a new or different use (Regs. Sec. 1.263(a)-3(d)).
Sec. 199A and the aggregation of trades or businesses
May 1, 2019 · Editor: Kevin D. Anderson, CPA, J.D. On Feb. 8, 2019, final regulations were published in the Federal Register, providing guidance on Sec. 199A to taxpayers and tax professionals on how to implement the new qualified business income (QBI) deduction (T.D. 9847).Among the areas the final regulations provide guidance on, one of the most challenging is determining when taxpayers can aggregate ...
Director Fees May Be Subject to Self-Employment Tax - The Tax …
Apr 1, 2014 · Editor: Valrie Chambers, Ph.D., CPA . Typically, fees paid to corporate directors who perform minor or no services for the corporation are reported on a Form 1099-MISC, Miscellaneous Income, and are subject to self-employment tax because such directors are not employees of the corporation, as described in Regs. Sec. 31.3121(d)-1(b):
About The Tax Adviser
Published continuously since January 1970, The Tax Adviser is a monthly publication of the American Institute of CPAs, providing tax practitioners with timely, in-depth, practical, and comprehensive information on federal and state tax developments.Read a brief history of The Tax Adviser.. Article Submissions. Contact [email protected]. ...
November 2024 - The Tax Adviser
Read past issues of The Tax Adviser, the AICPA's monthly journal of tax planning, trends, and techniques.
Termination of a Partnership Interest - The Tax Adviser
Oct 1, 2008 · Editor: Stephen E. Aponte, CPA. This item explores the two main methods used when terminating a partnership interest: purchase and liquidation. A terminating partner may sell his or her interest to one or more of the remaining partners, or the partnership may liquidate his or …
Reporting publicly traded partnership Sec. 751 ordinary income …
Apr 1, 2018 · Editor: Valrie Chambers, CPA, Ph.D. Properly reporting information from Schedules K-1, Partner’s Share of Income, Deductions, Credits, etc., for publicly traded partnerships (PTPs) is a difficult task.The task is particularly challenging in the year of sale.
Correcting Employment Tax Errors - The Tax Adviser
Jul 1, 2009 · Latest Stories. Faulkender named fourth acting IRS commissioner this year; Basis-shifting transaction-of-interest regulations to be removed; Business advocacy group seeks destruction of millions of BOI records