Gains and Losses

When the sale of an appreciated home triggers taxes — and when it doesn’t

July 2nd, 2026|Categories: Accountant, accountant near me, Appreciated Real Property, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Gains and Losses, NIIT, Real Estate, Sale of Home, Selling A Home, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Basis, Texas CPA, The Burns Firm|Tags: cpa near me, Gain Exclusions, Home Sale, NIIT, Sale of Appreciated Home, Sale of Home, tax, tax accountant, tax accountant near me, tax advisor, Tax Basis, Tax on Sale of Home, The Burns Firm|

Home values have risen significantly in many areas of the country over the last several years, leaving some homeowners with substantial gains when they sell. Of course a large [...]

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 [...]