NKSFBTax Insights
How Section 1231 Gains and Losses Affect Business Asset Sales
February 17, 2025
When selling business assets, understanding the tax implications is crucial. One area to focus on is Section 1231 of the Internal Revenue Code.
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Small Business Strategy: A Heavy Vehicle Plus a Home Office Equals Tax Savings
February 10, 2025
New and used “heavy” SUVs, pickups and vans placed in service in 2025 are potentially eligible for big first-year depreciation write-offs.
The Tax Implications of Disability Income Benefits
December 2, 2024
Many Americans receive disability income. Are you one of them, or will you soon be? If so, you may ask: Is the income taxed and if it is, how? It depends on the type of disability benefit and your overall income.
Help Ensure Your Partnership or LLC Complies With Tax Law
November 25, 2024
When drafting partnership and LLC operating agreements, various tax issues must be addressed. This is also true of multi-member LLCs that are treated as partnerships for tax purposes
November 11, 2024
Partnerships are often used for business and investment activities. So are multi-member LLCs that are treated as partnerships for tax purposes.
The Possible Tax Landscape for Businesses in the Future
November 4, 2024
Get ready: The upcoming presidential and congressional elections may significantly alter the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 14 months and how politicians in Washington would like to handle it.
Understanding Taxes on Real Estate Gains
October 21, 2024
Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain.