Defer tax with a Section 1031 exchange, but new limits apply this year
Normally when appreciated business assets such as real estate are sold, tax is owed on the appreciation. But there’s a…
Read More At Burkett Burkett & Burkett Certified Public Accountants, P.A., we provide a full range of services to individuals, small and large businesses, professional firms, and governmental and non-profit entities.
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Home-related tax breaks are valuable on 2017 returns, will be less so for 2018
Home ownership is a key element of the American dream for many, and the U.S. tax code includes many tax…
Read More What’s your mileage deduction?
Individuals can deduct some vehicle-related expenses in certain circumstances. Rather than keeping track of the actual costs, you can use…
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Make sure repairs to tangible property were actually repairs before you deduct the cost
Repairs to tangible property, such as buildings, machinery, equipment or vehicles, can provide businesses a valuable current tax deduction —…
Read More 2017 tax filing deadline for pass-through entities is March 15
When it comes to income tax returns, April 15 (actually April 17 this year, because of a weekend and a…
Read More Casualty losses can provide a 2017 deduction, but rules tighten for 2018
If you suffered damage to your home or personal property last year, you may be able to deduct these “casualty”…
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