We had a reader ask the following question: “I’m thinking about selling a tract of timber on land that was gifted to me 7 years ago. What can I expect the tax consequences to be? I’m a self-employed ...

There are many complex and confusing aspects to the qualified opportunity zone (QOZ) program, and the treatment of Section 1231 gain is no exception. Internal Revenue Code Section 1231 applies to ...

In order to qualify for opportunity zone tax benefits, an investor must reinvest capital gains into a qualified opportunity zone (QOZ) eligible investment vehicle within 180 days after recognizing the ...

The Qualified Opportunity Zone (QOZ) tax incentive program provides an opportunity for a taxpayer to defer and potentially eliminate the recognition of capital gains if, within certain 6-month time ...

When a corporation sells property, it can decrease the resulting tax burden several ways. Most business property sales can be calculated according to Section 1231, which allows a significant portion ...

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