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Category -
Wealth Building
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Posted by Darlynn Morgan, Esq.
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Wednesday, 19 November 2008 15:51 |
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We know the anxiety is rising for many of you as the economy falters. We know it is tempting to begin the slashing process of your expenses. And, we know that marketing is one of those areas that typical gets the brunt of those budget cuts. We understand...but you must resist!
Keep reading here… |
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Category -
Wealth Building
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Posted by Darlynn Morgan, Esq.
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Friday, 25 April 2008 21:37 |
Life doesn't seem to get any less complicated the older we get, does it? The first time you married you were probably young and in love, and may not have had two nickels to your name. As we get older, when marriage or remarriage is contemplated, there is a lot more to think about.
Consider an example: your spouse has died following a long, loving relationship. Or maybe you have suffered a divorce. After several years of living alone you've decided to date again, and have found an engaging person who makes you feel alive again. You want to take it to the next level but there are "issues" that must be considered. The companionship is warm and all is well, except for ….. the children.
The adult children of the parent may be having some difficulty with mom or dad's new-found love relationship. Why? They are worried about the inheritance.
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Read more... [Grandma's Dating! Romance and the Revocable Living Trust]
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Category -
Wealth Building
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Posted by Darlynn Morgan, Esq.
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Friday, 25 April 2008 21:36 |
A 1031 Exchange is a great way to sell real estate. Section 1031 of the Internal Revenue Code allows for a real property investor to defer their capital gain when they exchange it for investment property of a like kind. This means that you can trade an existing property for a new property or properties without having to pay taxes on your gain. The tax liability is “deferred” into the new property/ies.
In other words: if you own an investment property which has served its purpose and you would like to upgrade to a better, more profitable property, a 1031 Exchange may benefit you. For example, if you own a rental property, which you purchased in 1990 for $200,000. Now you have found a better property, which could provide more rental income or a better return. But due to appreciation, your old property has gone up in value and is now appraised at $700,000. Under normal circumstances you would need to pay taxes on your capital gain when you sell your old investment property.
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Read more... [The 1031 Tax-Deferred Exchange]
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