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January 2015
Previous articles and information posted by The McGuire Law Firm have discussed issues related to a step up in basis and carryover basis depending upon whether the property was gifted during a donor’s lifetime or acquired at death via inheritance.  Given the marital deduction, Congress was concerned that certain individuals may take advantage of the...
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Typically the sale of a corporation through an asset sale will result in two levels of tax when dealing with a C Corporation.  There is likely to be taxable gain to the corporation, and a taxable distribution to the shareholders of the corporation.  Hence, the term “double taxation” that has been used to describe the...
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In prior articles we have discussed the basis in property that is received through a survivorship right.  The article below continues to discuss this issue, but brings an additional variable or issue into the discussion.  This issue being: How does depreciation impact the basis of property that is received by a survivor, or in other...
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Why do shareholders in an S Corporation care about their stock basis and debt basis?  A shareholder’s basis in the S Corporation stock or debt is very important for multiple reasons.  The article below has been prepared by a tax attorney and business attorney at The McGuire Law Firm to provide additional information regarding the...
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In previous articles, we have discussed the types of taxes that are assessed and collected by the City and County of Denver.  One such tax that applies to many businesses is sales tax, and many business owners have questions related to sales tax licenses.  The article below has been drafted by a tax attorney and...
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In a prior article, buy sell agreements were discussed in general, regarding the potential benefit to small business owners.  The article below has been drafted by a business attorney to provide general information regarding certain types or forms of buy sell agreements that small business owners may be able to use for their buy sell...
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Often when property is gifted, whether directly or perhaps into a trust agreement, the transfer may be incomplete or only partially complete.  An incomplete gift may be from design, and some estate planning attorneys will use an incomplete gift purposefully within an overall estate plan.  Other times, the gift may be incomplete, but not necessarily...
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Under Section 2040(a) of the Internal Revenue Code, all jointly owned property must be included within a decedent’s estate, except for any portion that can be shown to have originally belonged to the surviving joint tenant, and that was never received or acquired by the surviving joint tenant from the decedent for less than full...
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In a recent article, a Denver business attorney from The McGuire Law Firm discussed a cash for asset acquisition.  The article below will discuss a related type of transaction that is similar, but also quite different called a stock for assets acquisition.  A stock for assets acquisition may also be called “C Reorganization” and can...
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If you are a business owner in Denver, the City and County of Denver has a number of different types of taxes that can be assessed by the treasury division and may apply to your business.  The article below has been prepared by a tax attorney from The McGuire Law Firm to provide additional information...
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