selling a personal residence allows a exclusion of a gain. do you have to buy a new home to exclude the gain?
secondly, if you rent a home do you have to depreciate it, or can you just deduct expenses.
Hi, Would you be so nice and tell me how could I transfer a personal property from Spain to an LLC? Or withmy personal name?" Most treaties provide for the exemption of gains from the sale or exchange of personal property. Generally, gains from the sale or exchange of real property located in the United States are taxable", as they mention in the page 47. How should I transfer the property so as to be legal in both countries? Is there any treaty between both countries? Could you tell me the rate of the death tax in Delaware? Which taxes do I have to pay according to the value of the initial contribution? Any death tax realted to the initial and final value of the company? As Ashlea Ebeling mentions in the Forbes magazine in her article "Where not to die in 2013" "Thanks to the fiscal cliff tax deal (the American Taxpayer Relief Act), the federal estate tax exemption of a generous $5 million per person, indexed for inflation, is now permanent. So for 2013, up to $5.25 million of an individual’s estate will be exempt from federal estate tax, with a 40% tax rate applied to any excess over the exemption amount." http://www.forbes.com/sites/ashleaebeling/2013/01/28/where-not-to-die-in-2013/ In the INFORMATION BRIEF, Research Department, Minnesota House of Representatives updated in September 2014 by Joel Michael Table 3 State Estate Taxes Applicable to 2014 Deaths (as of June 30, 2014) State - Exemption Amount - Basis for Rate Schedule - Top Statutory Rate Delaware - $5,340,000 - State specific - 16% (indexed for inflation,based on federal exemption) (http://www.house.leg.state.mn.us/hrd/pubs/estatesurv.pdf) So there is an exception for estates up to $5, 340,000 in the state and federal death tax. Is that correct? Thank you, ***** *****