There are some important questions to consider when there is a chance that you will be in a nursing home in the years to come. You want to make sure your assets are protected completely. Question 7: Medicaid income eligibility requirements: Can I transfer income and assets to my children before going into a nursing … Read more
Inthe summer of 1990, the Internal Revenue Service announced the long awaited rules on Tax Deferred Exchanges. Section 1.1031 of the IRS Code laid out in detail the procedure for turning a sale and purchase type transaction into an Exchange. The revised rules allow owners of certain types of “like kind” real estate to sell … Read more
Firms and businesses are always seeking to cut costs, and the best way to do this is to hire a paralegal to take on a large portion of a lawyer’s job. Even so, paralegals make excellent money and are highly respected in their professions. To become a paralegal, you have a few possible options. The … Read more
You are new to the tax preparation field. You have your degree in accounting, maybe even a masters degree. You have been prepped on the most current tax laws, may even have passed a state-required certification process to prepare taxes, and are ready to open your own practice. Now the real question: What software should … Read more
A tax deferred exchange represents a simple, strategic method for selling one qualifying property and the subsequent acquisition of another qualifying property within a specific time frame. Although the logistics of selling one property and buying another are virtually identical to any standard sale and purchase scenario, an exchange is different because the entire transaction … Read more