Business Law

Your client, Jacob, turned 66 years old this year. Jacob has no heirs and has decided that he would like […]

Sally owns real property for which the annual property taxes are $8,000. She sells the property to Shelley on February

Ted and Marvin Brown purchased an apartment building in 2004 as equal tenants in common. After a hectic decade of

On August 31, 2014, Harvey and Margaret, who file a joint return and live in Charleston, South Carolina, sell their

Wesley, who is single, listed his personal residence with a real estate agent on March 3, 2015, at a price

Lloyd owns a beach house (four years) and a cabin in the mountains (six years). His adjusted basis is $300,000

Karl purchased his residence on January 2, 2014, for $260,000, after having lived in it during 2013 as a tenant

Wanda, a calendar year taxpayer, owned a building (adjusted basis of $250,000) in which she operated a bakery that was

In two unrelated transactions, Laura exchanges property that qualifies for like-kind exchange treatment. In the first exchange, Laura gives up

Mitchell, a calendar year taxpayer, is the sole proprietor of a fast-food restaurant. His adjusted basis for the building and