Ong & Company Blog

20% QBI Deduction for Rental Real Estate

Landlords: Review the new 199A safe harbor rule Owners of pass-through entities (S corporations, partnerships and limited liability companies) and sole proprietors can benefit from a new deduction ...

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Write Off Your Building Faster

Generally, it takes nearly four decades to fully depreciate the cost of a business building. That's a long time in most people's book. But you may be able to recoup the cost of certain components ...

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Historic Building Tax Credits

How to nail down the historic structures credit Are you thinking of renovating a building you own in an historic part of town? Before you start knocking down walls, find out if the building qualifies ...

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Primary Home Sale Tax Exclusion

Richard Ong / June 08, 2018 /

Real Estate, Tax Planning

How to lock down the home sale exclusion Good news if you're selling your home: The home sale exclusion wasn't touched by the massive tax law changes. Arguably one of the biggest tax breaks to be ...

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Deduct Property Easements for Charity

Richard Ong / October 23, 2017 /

Real Estate

Do you own real estate property far from the suburban sprawl? If you donate a part of the property as a "conservation easement" to a qualified charity you can realize a big tax deduction without ...

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Are You a Real Estate Professional?

Richard Ong / April 24, 2017 /

Real Estate

The rules that define real estate activities for tax purposes can be confusing. Is the real estate business you conduct considered passive activity or could you be defined as a real estate ...

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Avoid Tax on Real Estate Sales

Richard Ong / August 24, 2016 /

Real Estate

Are you holding onto business or investment real estate primarily because of the taxes you would incur upon a sale? Section 1031 of the Internal Revenue Code may provide you with the ability to defer ...

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