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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 […]