Using a QSB can eliminate capital gains tax due on the future business sale if the company is established and stock issued pursuant to Internal Revenue Code Section 1202.

What Is IRS Section 1245? IRS Section 1245 is a tax code provision that governs the depreciation recapture process for certain property types.

Section 1256 contracts include certain regulated futures contracts, foreign currency contracts and non-equity options. These contracts receive a unique tax treatment under the IRS code and are ...

Learn how Section 1250 impacts taxes on gains from depreciated real estate sales, including rules, examples, and key ...

What Is IRS Section 1245? IRS Section 1245 is a tax code provision that governs the depreciation recapture process for certain property types.

Tax Code 179, the special deduction to write off equipment in the year purchased, was extended permanently in 2015 ...

Revenue Ruling 2023-2 has confirmed the position of the IRS that completed gifts to grantor trusts are not eligible for a basis step-up under Section 1014 of the Code upon the death of the grantor.

Internal Revenue Code Section 181 permits a 100% deduction for the first $15 million of the cost of producing a film that is shot in the U.S. (even before the film is released). While it sounds ...