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Estate Planning Tips for Children Selling Parents Home in California

  Selling the Family Home It’s been 50 years since your last parent died. Mom and Dad left one asset – the family home – that they bought for $30,000 in the roaring 20’s. At the time of your parents passing, the rustic home was worth $196,000. A recent appraisal conducted on the ‘ol home […]

Income Tax Law: Reporting Sale of Inherited Real Property

Follow the Rules or Else… Income tax law strikes fear in the hearts of Americans. The reason is simple. Income tax law is confusing. And the consequences of misinterpreting income tax law  (whether intentional or not) can be dramatic, ranging from lost fortunes in tax penalties to prison sentences for tax evasion. No one’s immune from […]