Lea Uradu, J.D., is a Maryland state registered tax preparer, state-certified notary public, certified VITA tax preparer, IRS annual filing season program participant, and tax writer. Vikki Velasquez ...

There are many complex and confusing aspects to the qualified opportunity zone (QOZ) program, and the treatment of Section 1231 gain is no exception. Internal Revenue Code Section 1231 applies to ...

In order to qualify for opportunity zone tax benefits, an investor must reinvest capital gains into a qualified opportunity zone (QOZ) eligible investment vehicle within 180 days after recognizing the ...

We had a reader ask the following question: “I’m thinking about selling a tract of timber on land that was gifted to me 7 years ago. What can I expect the tax consequences to be? I’m a self-employed ...

An Albuquerque tax expert explains how classifying your income correctly can lead to significantly lower tax rates. Are you ...

There are generally two kinds of gains and losses that must be included in the IRC Section 1231 netting process, as follows: (1) Includable gains and deductible losses on sales or exchanges of ...

Treasury issued the long-awaited second round of Proposed Regulations yesterday (April 17, 2019), clarifying some key issues in connection with investing in and forming Qualified Opportunity Funds ...

When a corporation sells property, it can decrease the resulting tax burden several ways. Most business property sales can be calculated according to Section 1231, which allows a significant portion ...

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