Discussion Post: "Tax Strategies for Business-Owned Properties"
o Don, the owner of Watt Inc., has a building that he bought for $2,500,000. It has depreciated by $350,000. Now Don wants to sell it for $4,000,000. He has heard about ordinary losses. He has heard about capital losses. Unfortunately, Don does not know the difference between these two types of losses. To add to the confusion, he doesn't know what the difference is between a realized and a recognized loss. How would you explain these concepts to Don? What type of advice would you offer to him and did any changes brought about by the Tax Cuts and Jobs Act impact your advice?
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.