MLR

Category: Real Estate

Accounting for Business

Welcome to our Resources section, where you will find articles pertaining to accounting for business, business financial planning, financial advice, and the industries of our clients.
This section is a great source of information, but please contact us if you feel you need professional financial advice. Maxwell Locke & Ritter is here to offer trusted guidance.

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When was the last time you reviewed the insurance coverage on your business property? If you have an insurance agent who works closely with your company, you may be accustomed to periodic reviews to keep your insurance up to date.

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Do you own residential or commercial rental real estate? The Tax Cuts and Jobs Act (TCJA) brings several important changes that owners of rental properties should understand.

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The IRS has turned up the heat on the use of cost segregation studies by building owners. Auditors have a special guide to help assist them in examining the returns of taxpayers who utilize cost segregation studies.

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If you own raw land as an investor, you can cash in on a tax break under Section 1237 of the tax code by subdividing the tract and selling off in smaller parcels.

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Let’s say you buy a vacation home and decide to rent the place. You incur a $4,500 loss for the year. You may think: What could be simpler than claiming this loss on my tax return?

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When natural disasters strike, it highlights the need for businesses to review their insurance policies. Your business could become a victim of Mother Nature, or any other catastrophe, without warning.

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Are you thinking about divesting a real estate investment and then replacing it with another property? If you sell appreciated property outright, you’ll incur a taxable gain, which lowers the amount available to spend on the replacement property.

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Are you thinking about divesting a real estate investment and then replacing it with another property? If you sell appreciated property outright, you’ll incur a taxable gain, which lowers the amount available to spend on the replacement property.

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Let’s say you own a C corporation that needs to raise some cash and you’re considering the sale of a warehouse that has been depreciated to zero.

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If you have a hard time finding a buyer for investment or commercial real estate, there may be an alternative that meets your needs and saves you taxes. Instead of selling the property, consider exchanging it for a comparable property you have had your eye on.