Year-End Tax Planning Checklist for Businesses

As the year comes to a close, proactive tax planning can help businesses optimize deductions, minimize liabilities, and prepare for the upcoming tax season. From reviewing financial statements to leveraging tax credits and deductions, this checklist ensures you’re financially prepared and compliant.

Understanding Depreciation Recapture and Its Impact on Your Property Sale

Depreciation recapture can significantly impact the tax consequences of selling a property. This process involves paying taxes on the portion of the gain attributed to depreciation deductions claimed during ownership. Knowing how it works and planning accordingly can help you minimize its financial impact.