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Understanding Depreciation: Types of Property and Cost Recovery Methods
Depreciation lets U.S. business owners and immigrants deduct costs of tangible property used for income over years. Capital expenditures require…
H-1B Visa Holder’s Promotion to Electrical Engineer Risks Legal Status
USCIS now enforces stricter rules on H 1B visa promotions. Employers must file amendments for significant job changes to protect…
Understanding Like-Kind Exchanges of Real Property Under Section 1031
Section 1031 updates in 2025 expand property eligibility, add a $5 million gain deferral limit, and tighten IRS reporting with…
Loss Deduction Rules for Property Sales Between Related Parties
Under IRS rules, losses on property sales between related parties like family members are nondeductible. Taxpayers must identify related parties,…
Understanding Installment Sales in Property Disposition and Tax Reporting
Immigrants selling property in the U.S. must understand installment sales, adjusted basis, and depreciation recapture. Proper documentation and filing IRS…
Disposition or Sale of Property in Involuntary Conversion Cases
Involuntary conversion is a property loss event treated as a sale by the IRS with special tax relief rules. Homeowners…
Tax Treatment for Worthless Securities and Property Disposition
Taxpayers owning stocks or bonds that become completely worthless can claim a loss using IRS Form 8949 and Schedule D.…
How to Calculate Depreciation When Property Changes to Business or Rental Use
Owners converting personal property to business or rental use must follow IRS rules. Depreciation basis equals the lower of market…