Consult your local CPA to calculate accurately and minimize your tax liability.

Intangible assets like goodwill or tangible personal property (e.g., equipment) are excluded from 1031 treatment and are taxed separately—goodwill is typically taxed as a capital gain, while equipment may be subject to depreciation recapture taxed as ordinary income.To minimize taxes on the sale of the business, consider strategies such as Opportunity Zone investments, which defer gains until 2026 if proceeds are reinvested in a Qualified Opportunity Fund (QOF), or structuring the sale as an installment agreement to spread taxable income over multiple years.

I'm looking for the cleanest & most visible way to access payment history, see amortization schedule, tax documents, etc- much like bank softwares provide. 

@Jeanette LandI always recommend using a tax professional.

FINALLY!

My question is do I have to recapture all the depreciation for tax in 2025?

Hi Steve, where did you get your property tax estimate from?

What paperwork should I keep a paper trail of to make things like taxes and other situations better/easier for myself?

However, this means you’ll need to comply with the annual filing, franchise tax, and reporting requirements in both states.

Quote from @Jacob Molina: Okay, so with that 3-2-1 would the final year of that or end of that the rate be fixed or could it go up any higher?