property | Connolly Steele

The latest news from Connolly Steele about personal & business accounting, payroll & tax services plus financial advice & planning.

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Separating your business from its real estate

Does your business need real estate to conduct operations? Or does it otherwise hold property and put the title in the name of the...

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Important considerations when engaging in a like-kind exchange

A business or individual might be able to dispose of appreciated real property without being taxed on the gain by exchanging it rather...

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The tax mechanics involved in the sale of trade or business property

What are the tax consequences of selling property used in your trade or business? There are many rules that can potentially apply to the...

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Thinking about converting your home into a rental property?

In some cases, homeowners decide to move to new residences, but keep their present homes and rent them out. If you’re thinking of doing...

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Are you ready for the 2021 gift tax return deadline?

If you made large gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to...

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Defer tax with a like-kind exchange

Do you want to sell commercial or investment real estate that has appreciated significantly? One way to defer a tax bill on the gain is...