Despite tax law changes, the 1031 like-kind exchange remains fully intact for 2026. It allows you to defer all capital gains and depreciation recapture taxes when you sell a investment property and reinvest the proceeds into a like-kind property. With the higher $15 million estate tax exemption, this is a critical strategy for passing appreciated assets to the next generation tax-efficiently . 👉 Tip: You have 45 days to identify potential replacement properties and 180 days to close. What's the biggest challenge you've faced (or fear) when trying to complete a 1031 exchange?

When selling property in 2026, understanding the holding period is key. Assets held for more than 24 months qualify for Long-Term Capital Gains treatment, currently taxed at favorable rates (0%, 15%, or 20% depending on income). Short-term gains on property held 24 months or less are taxed as ordinary income (up to 37%). The gain exclusion on a primary residence ($250k/$500k) is still available if you've lived there for 2 of the last 5 years . 👉 Tip: Before selling, run the numbers to see how the 24-month mark changes your tax bill. Have you ever held a property an extra few months just to cross the long-term holding threshold?

Organize receipts by category and add a short note on who, what, when, where, why for business expenses. This simple habit makes audits less stressful and deductions easier to claim. Are you team “digital folder” or team “physical binder” for receipts?

If you host business meetings or client events at your home, your business can pay you rent for up to 14 days per year tax‑free — and the business can deduct it. 👉 Document the meeting purpose, attendees, and agenda to support the rental. What event could you host at your home for clients this year?

If you could get a massive tax deduction this year, would you invest in a new car or new equipment first?