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Excluding Gain Limits You may qualify for excluding gain from the sale of your home by up to $250k of your capital gains from your taxable income or $500k if you’re filing a joint tax return with your spouse. You must sell your principal residence before you can claim the exclusion. You can exclude gain...
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As discussed previously in other articles, reorganizations can provide a way to restructure business entities or acquire others without experiencing high tax costs. In other words, reorganizations offer ways to accomplish business goals through tax-free restructuring like a forward triangular merger. One standard method used is a forward triangular merger, or as some people refer...
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Advantages of Taking on Debt with Non-Recourse Liability Taking on debt with non-recourse liability has several advantages. Generally, when acquiring property subject to debt, the acquiring party benefits more from non-recourse debt rather than recourse. With that in mind, you may be asking yourself the difference between the two. A Denver business attorney has prepared...
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What are Reorganizations? Reorganizations provide ways for corporate entities to restructure without triggering substantial tax consequences. With any reorganization, it is essential to remember that the strategy is rooted in tax deferral rather than tax elimination. The consideration used by the acquiring corporation, or subsidiary of an acquiring corporation, can also significantly impact whether or...
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denver tax lawyer | McGuire Law Firm
As a small business owner, we know that you do your best to keep costs to a minimum. One way to save money that many business owners overlook is tax deductions. Tax deductions that sole proprietors, partnerships, and LLCs may be able to take add up to a significant amount of savings. Understanding which deductions...
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money matters | McGuire Law Firm
Throughout the stages of life, there are many major events that can cause a major financial change. In addition to altering your personal bank accounts, some life events can have a significant impact on how you file taxes. Being aware of this impact before, during, and after the event can help minimize confusion around your...
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