Tax Planning Tag

High demand for homes has created a seller’s market. Those thinking about selling their homes will want to determine whether they qualify for the home sale gain exclusion. This article...

2022-2023 Tax Planning Guide Tax planning may be a real challenge this year. Minimizing taxes is never easy. But in times of legislative and economic uncertainty, it can be a real challenge....

10 red flags for IRS audits Even though the overall IRS audit rate is currently low historically, it’s expected to increase as a result of provisions in the Inflation Reduction Act...

Authored by Haynie & Company Partner Bernard Abercrombie, CPA As we approach the end of the year, my clients are asking what tax benefits still exist for charitable giving in 2022....

First-year bonus depreciation and Sec. 179 expensing: Watch out for the pitfalls Many companies are eligible for tax write-offs for certain equipment purchases and building improvements. These write-offs can do wonders...

A Section 1031 exchange (also known as a like-kind exchange) allows commercial or investment real estate owners to avoid capital gains tax when selling the property by swapping qualifying properties....

Authored by Haynie & Company Partner Bernard Abercrombie, CPA. As you are aware, the real estate market has been on quite a ride over the last year or so. Market data...