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

Business Income Tax, Business owned Property, Capital Gains, Federal Income Tax, Ordinary Income Tax, Tax Planning /

There are many rules that can potentially apply to the sale of business property. Thus, to simplify discussion, let’s assume that the property you want to sell is land or depreciable property used in your business, and has been held by you for more than a year. (There are different rules for property held primarily […]

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