NKSFBTax Insights
Married Couples Filing Separate Tax Returns: Why Would They Do It?
March 28, 2022
If you’re married, you may wonder whether you should file joint or separate tax returns. The answer depends on your individual tax situation.
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Are You Ready for the 2021 Gift Tax Return Deadline?
March 21, 2022
If you made large gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2021 gift tax return. And in some cases, even if it’s not required to file one, it may be beneficial to do so anyway.
Defer Tax With a Like-Kind Exchange
February 28, 2022
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 with a Section 1031 “like-kind” exchange where you exchange the property rather than sell it. With real estate prices up in some markets (and higher resulting tax bills), the like-kind exchange strategy may be attractive.