IRS Tax Experts Blog

One of the most effective tools that real estate investors have is a 1031 exchange that enables you to avoid the capital gains taxes on your hands by investing the proceeds of a sale into a similar-purpose property. Although it is a federal provision, it is a race against time that has no room for error, and the deadlines are strict. Any wrong move will potentially trigger a huge tax bill, transforming a brilliant investment plan into a nightmare. Always prefer contacting tax professionals for sales tax audit representation and similar work. Dates You Shouldn’t Forget There are two strict time limits stipulated by the IRS that are never compromised. Cold feet, cold markets, and colds do not have extensions. a)      The 45-Day Identification Period You must actually designate the potential replacement property or properties in writing within 45 calendar days beginning on the day you close the sale of your original property (the "relinquished property): Wee...

Business partnerships start with high hopes, shared risks, and often real friendship. Yet reality hits hard. Around 70% of them fail eventually, according to multiple studies and expert analyses tracked over the years. That number stings because it means most owners face the same tough question : fight through the mess or call it quits? The answer changes everything—money, time, even personal health hang in the balance. Some fights pay off. Others drain the tank for nothing. Spotting the difference early saves ailing partnerships from becoming salvageable ones, matters more than most admit.   What Usually Breaks Them in the First Place? Partnerships crack for predictable reasons. Misaligned visions top the list. One partner eyes slow local growth while the other dreams of national scale. Small gaps grow into canyons fast. Uneven effort follows close. When one carries the load—nights, weekends, decisions—the resentment builds quiet but steady. Money fights fuel the fire, too...