You'll have long term capital gains (Carryover holding period from the deceased) equal to the sales amount less the fair market value on the date of death (due to stepped up basis) (or alternate valuation date if that was used), less any costs of sale.
I recently incorporated a LLC company in Delaware. I'm a Portuguese citizen living in Portugal. The products we sell are manufactured in the USA by a third party manufacturer, then shipped to a USA third party fulfillment center, and from there shipped to our customers. I don't own any warehouses,... Read more »
In 2015, friends and I started a business. We allocated shares, and set up a vesting schedule. In 2016, we decided to allow the business license (Delaware) to lapse and operate with funds from an existing LLC business I own, however, the other partners do not benefit from the LLC business.... Read more »
More information is needed to give you more detailed advice, but you have two basic options, revive the DE entity and sell the business or document the transfer of the business to the LLC and have it sell the business. The devil will be in the details. I would recommend you sell the assets of the...Read more »
Hello i have a business that i started in the middle of 2012. i had my x girlfriend set up a merchant account and it was deposited to the business account. we broke up and i paid the business tax on 2012 under my name and know she is harassing me. What is the best way because she got a letter from... Read more »
You can gift up to $13,000 to each person per year without it counting against your lifetime limit. If you are married, you can make an election on your tax return and increase that amount to $26,000 per person, per year. But unless you have a large estate, this will not mean you are going to pay...Read more »
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