construction contractors

Transferring FLP or FLLC Interests with Operating Losses

December 28, 2016

It’s not uncommon for real estate investors to hold properties in a family limited partnership (FLP) or family limited liability company (FLLC). Many such people also likely transfer ownershi..

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Could the Small Taxpayer Safe Harbor Work for You?

December 28, 2016

One of the more vexing tax accounting issues for property owners has long been the proper treatment of expenditures related to improvements of tangible property, such as buildings, machinery, equip..

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Passive Activity Self-Rental Rule Applies to S Corporations

December 28, 2016

If you own property and a business, there’s an obvious temptation to lease that property to the business. But be careful — you risk triggering the self-rental rule and catching the eye ..

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To Deduct Business Losses, You May Have to Prove “Material Participation”

December 9, 2016

You can only deduct losses from an S corporation, partnership or LLC if you "materially participate" in the business. If you don't, your losses are generally "passive" and c..

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Section 199 Domestic Production Activities Deduction

December 9, 2016

As tax time approaches, don't forget to ask your accountant about the "Domestic Production Activities Deduction" (DPAD).  This deduction can provide a significant tax break ..

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