I’m in the specialty tax business, and I get calls on a daily basis from CPAs and real estate owners who are concerned that the reallocation of tax basis to “personal property” as part of a cost ...

IRS Section 1245 determines how certain types of property are taxed upon sale. Specifically, it deals with recapturing depreciation on personal property and specific kinds of real estate. When ...

The section 179 deduction allows a small business to take a tax deduction for the entire cost of certain property and equipment in the year it buys that property. That produces a larger, more ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. "Tangible personal property" is a tax term that refers to personal property that can be felt ...