Section 1231 property often provides the best of both tax worlds: ordinary loss treatment and capital gain treatment. However, many taxpayers overlook the five year lookback recapture rule that can convert current gains into ordinary income. Learn how the rule works before selling business or rental property.

Many business owners keep their building after selling the operating business. A recent IRS ruling explains how rental income can create unexpected risks for certain S corporations and what business owners should consider before making a major business transition.

A recent federal court decision denied more than $100 million of claimed tax benefits because the underlying transaction lacked economic substance. Learn what business owners should know before implementing sophisticated tax planning strategies.