Knowledge Library
Articles and practitioner guidance organized around this planning area.
Insight
Asset versus equity structure, basis, recapture, goodwill, purchase-price allocation, installment terms, state sourcing, charitable planning, and seller objectives should be modeled before documents become binding.
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Family employment can create useful tax and retirement opportunities only when the job is real, pay is reasonable, payroll is correct, and entity-specific FICA/FUTA rules are respected.
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Inherited IRA treatment depends on beneficiary classification, date of death, whether the owner had begun required distributions, spouse options, account type, and applicable distribution rules.
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Installment treatment can defer eligible gain, but seller credit risk, interest, recapture, ordinary-income items, security, state sourcing, and estate consequences still matter.
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Retirement plan failures should be classified correctly, corrected under the applicable IRS or DOL framework, documented, and followed by a root-cause fix so the error does not recur.
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A low-income year can create an opportunity to recognize gain deliberately, but the practitioner should model capital-gain brackets, NIIT, ACA, IRMAA, state tax, loss carryovers, and future basis.
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A like-kind exchange can defer gain, but identification, timing, basis, debt, replacement-property economics, state tracking, and eventual disposition should be considered together.
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Home sale planning can require ownership and use tests, partial exclusions, basis reconstruction, depreciation, nonqualified use, divorce, death, rental conversion, §1031 interaction, and state deferred-gain tracking.
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The choice between §179 and bonus depreciation can change federal timing, state treatment, taxable income, QBI, passive losses, basis, financing metrics, and future deductions.
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Cost segregation can accelerate depreciation, but passive limitations, business losses, state conformity, recapture, future sale, financing, and current tax capacity affect the actual benefit.
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Marriage and divorce affect filing status, liability, dependents, property basis, retirement accounts, ACA, businesses, community property, carryovers, withholding, and professional-conflict issues.
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Estimated tax and withholding are cash-flow and penalty-management tools. Safe harbors, uneven income, payroll withholding, retirement distributions, state payments, and year-end flexibility should be coordinated.
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Short-term rental classification, material participation, personal use, services, self-employment tax, local rules, depreciation, and passive activity treatment require separate analysis.
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Death creates a boundary between the final individual return and post-death taxation. Basis, IRD, estate/trust returns, retirement accounts, business interests, installment obligations, state issues, and portability may all require coordination.
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Year-end planning works best as a coordinated review of income, deductions, retirement, business activity, investments, healthcare, charitable giving, states, and implementation deadlines.
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Real estate held for sale to customers can produce ordinary income while investment property may produce capital gain. Intent, conduct, frequency, development activity, and documentation matter.
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Income-tax practitioners should recognize gift, basis, estate, portability, valuation, state, trust, and succession issues while respecting the boundary between tax analysis and legal drafting.
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