Section 1231

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 [...]

Key 2024 Inflation-Adjusted Tax Parameters for Small Businesses and Their Owners

November 30th, 2023|Categories: Accountant, accountant near me, Accounting, Burns Firm, Business, CPA, CPA Dallas, CPA near me, Dallas CPA, Section 1231, Section 791, Self-employed, Services, Small Business, Tax, Tax Rates|Tags: 2024 Inflation Adjusted Tax Parameters for Small Business and Owners, cpa near me, Section 1231, Section 179 Deductions, Small Business Tax, tax, tax advisor, Tax Rates, The Burns Firm|

The IRS recently announced various inflation-adjusted federal income tax amounts. Here’s a rundown of the amounts that are most likely to affect small businesses and their owners. Rates and [...]