Ordinary Gain

How Section 1231 Gains and Losses Affect Business Asset Sales

January 30th, 2025|Categories: 1231, Accountant, Accounting, Burns Firm, Business, Business Asset Sale, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Gains and Losses, Ordinary Gain, Ordinary Gains and Losses, Sale of Business, Section 1231, Services, Small Business, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Rules, The Burns Firm|Tags: Business Asset Sale, Business Gains and Losses Tax, Capital Gains and Losses, CPA, cpa near me, Dallas CPA, Ordinary Gains and Losses, sale of business, Sec. 1231 Gains and Losses, Section 1231, tax advisor, The Burns Firm|

When selling business assets, understanding the tax implications is crucial. One area to focus on is Section 1231 of the Internal Revenue Code, which governs the treatment of gains [...]

Planning for Taxable Gains and Losses

July 9th, 2024|Categories: Accountant, Burns Firm, Capital Gain, Capital Gains Tax, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Ordinary Gain, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Taxable Gains and Losses, Texas CPA, The Burns Firm|Tags: Categories of Gains and Losses, CPA, cpa near me, Dallas CPA, Gains and Losses, How to Classify Business Real Estate, tax, tax advisor, Tax Rate Differential on Gains, Taxable Gains and Losses, Texas CPA, The Burns Firm|

What's the difference between capital gains and losses and ordinary gains and losses? The classification will have a major impact on your federal income tax obligations when you sell assets, such as investments, real [...]