Internal Revenue Code (IRC) Section 121 permits a married couple to exclude up to $500,000 of capital gain from the sale and a single person to exclude up to $250,000 of capital gain, provided the house being sold was their principal residence for two of five years preceding the sale.
March 21, 2011
Why is an Ownership Agreement so important? We've all heard the horror stories of marriages that end in divorce without a prenuptial agreement--lots of drama and fighting, and a small fortune spent on attorneys fees. Business disputes are no different, they can be nasty, expensive, and in the end, the litigants are at the mercy of the court to decide their future.
November 4, 2010
With careful thought, proper planning and realistic expectations, you can start now to build a business that is financial rewarding and spiritually fulfilling. You can be in control of your destiny.
September 8, 2010
Understanding the basic terms, the timing, and the representations and warranties in the agreement will ensure that the parties know their rights and obligations.
August 31, 2010
Minimize the risk of a lawsuit and reduce the cost of litigation that can't be avoided.
February 23, 2010
The purpose of this blog is to share business and legal information with entrepreneurs, business owners and their families. No legalese is spoken here--plain English is the language of choice.
August 11, 2011
0