I'm somewhat confused. when you say "apartment" - do you mean a building - with several apartments? or do you mean a single apartment and your client is sharing this single apartment with a contractor...
It might be possible to put the sale on an installment basis with 6252. It wouldn't lower the tax, but it would spread it out over an agreed upon time if your client and buyer approve of the method....
I had a client referred to me just recently that didn't identify a property within the time frame for a 1031 exchange. He netted a profit on the sale of the of the building for over 1.6 million back...
2015 Year-End Tax Tips for Individuals
2105 Year-End Tax Tips for Businesses
Preparation Engagement Letter for SSARS No. 21
Compilation Engagement Letter Prepared-Tax Basis
Compilation Report of Comparative Financial Statements Omitted Disclosures
SSARS Illustrative Representation...
Letter to the IRS regarding the budget
Year-End Tax Tips for Businesses
The end of the year gives you and your business a great chance to maximize tax savings for 2015 and beyond. There are several general strategies to consider, such as use of traditional timing techniques for income...
The holiday season often prompts people to give money or property to
charity. If you plan to give and want to claim a tax deduction, there are a few
tips you should know before you give. For instance, you must itemize your
deductions. Here are six...
For Small Businesses: IRS Raises Tangible Property Expensing Threshold to $2,500; Simplifies Filing and Recordkeeping
The de minimis threshold in the tangible property regulations was raised today from $500 to $2,500 as a result of a meeting with...
1330 Braddock Place, Suite 540
Alexandria, VA 22314
For Advertiser and Sponsors
Find A Professional
NSA Scholarship Foundation
Affiliated State Organizations