Recently, I received a distressing call from a taxpayer seeking a second opinion. Her tax preparer had initially told her that the sale of her home would qualify for the Section 121 exclusion. However, once the return was prepared, it turned out her home did not qualify for the exclusion. Had the taxpayer known the sale would result in taxable gains, she likely would have held onto the property or pursued other means to defer the taxable gains. For those unfamiliar with Secti

For taxpayers who own real estate, a cost segregation study can be a valuable tax strategy to accelerate potential tax deductions. A cost...