Basi, Basi, Henson, Dunning & Associates

07/21/2026

Selling an investment property can unlock capital for new opportunities, but it may also lead to significant tax liabilities. A 1031 exchange allows real estate investors to sell one qualifying property, buy another, and defer certain taxes that would typically arise from the sale.The process has st...

07/16/2026

When evaluating a business, fixed assets often hold more weight than many realize. These assets, which include property, machinery, and equipment, form the backbone of a company’s operations and directly impact its value. Understanding fixed assets is essential for anyone involved in buying, selli...

07/09/2026

When a partnership changes ownership or asset values, tax consequences can become complex. One tool that partnerships can use to manage these tax effects is the Section 754 election. This election allows partnerships to adjust the basis of their assets when certain events occur, potentially saving m...

07/07/2026

07/02/2026

Tax season often brings a mix of stress and opportunity. One way to reduce your tax bill is by using itemized deductions instead of the standard deduction. Itemizing can lead to significant savings, especially if you have deductible expenses that add up. Understanding how to maximize these deduction...

06/25/2026

Dealing with tax debt can feel overwhelming, but the IRS offers options to help taxpayers manage what they owe. Two common solutions are the Offer in Compromise (OIC) and installment agreements. Knowing how each works and when to use them can save you time, money, and stress.What Is an Offer in Comp...

06/23/2026

Protecting your assets while reducing your tax burden is a goal many strive to achieve. Without a clear plan, you risk losing hard-earned wealth to unexpected claims or excessive taxes. This post explores practical strategies that help safeguard your assets and keep more of your money where it belon...

06/22/2026

We are pleased to announce that our team has successfully finalized the closing of a commercial real estate transaction valued at $1,600,000.00. This achievement underscores our commitment to excellence and our capacity to navigate the complexities of the real estate market effectively. We appreciate the support of our clients and partners as we continue to pursue opportunities for growth and success in this dynamic sector.

06/18/2026

Managing and preserving family wealth across generations can be challenging. Families often face issues like estate taxes, asset protection, and control over how wealth is passed down. A Family Limited Partnership (FLP) offers a strategic way to address these concerns while maintaining control and m...

06/17/2026

Knowing the true worth of your business can unlock many opportunities. Whether you are planning to sell, attract investors, or simply want to understand your company’s financial health, getting your business valued is a smart step. This post explains why a professional business valuation matters a...