In recent years, the residential real estate markets in many areas have surged. That means there are more seniors with highly appreciated homes than ever before. If you’re facing this situation, you might be rightfully concerned about the potential tax hit on the sale. Here’s a tax-saving strategy to consider.  Home Sale Tax Basics If you…

Meteorologists warn that the 2024 hurricane season could break records, possibly surpassing 2020, the worst hurricane season on record. Even if hurricanes aren’t a threat where your business operates, other natural disasters — such as floods, wildfires and tornadoes — could impact your normal operations. Interruptions from these disasters and other crises can cause significant financial…

Real estate can be an attractive long-term investment. But the legal entity you select to own property can have important tax implications. Here’s why single-member limited liability companies (SMLLCs) are generally a better alternative than corporations from a federal income tax perspective. Disregarded SMLLCs Are Disregarded for Only Federal Income Tax PurposesDisregarded single-member limited liability companies (SMLLCs) are…