If you own an additional property that you want to sell, you need to plan ahead to reduce your tax liability. Three ways to avoid tax liability are: You don`t pay capital gains tax until you sell an asset. Let`s say you bought your home 2 years ago and […]
Daily Archives: February 11, 2022
(e) where the business of the partnership may be carried on only at a loss; It is assumed that the partnership sold each of its properties for the proceeds of the sale up to their respective cost amounts. This means that the partnership does not make a profit and […]