estate tax percentage
tax question….sale of shares of incorporated co. holding real estate?
I own shares in company “A” inc. I would like to sell my shares to my siblings who own the other shares of “A”. My siblings want to rollover the assets (which only consists real estate), the shares and shareholders in the EXACT same percentage of company “A” into company “B”. Can they rollover the assets (the realestate) into company “B” at the same price the real estate was purchased at….so there is no capital gains taxes to be paid until the assets are sold…or does it have to be rolled over at fair market value? I will be selling my shares under company “B”. Will there be any tax implications I have to deal with other than the revenue I get for the sale of the shares?
Well, you cannot sell the shares without a tax implication. YOu should set up a like-kind exchange. Study IRS Form 8824 and the directions to Form 8824. I once went to a National Association of Enrolled Agents seminar. The speaker said the best way to avoid paying more Federal income was by setting up a partnership, not a corporation. If you have a corporation, you should study this and decide whether to set up a partnership, ideally with your siblings. Best of luck.
ABC talks taxes
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Table 17. Taxable estate tax returns as a percentage of adult deaths, selected years of death, 1934-2004.(Selected Historical and Other Data): An article from: Statistics of Income. SOI Bulletin $9.95 This digital document is an article from Statistics of Income. SOI Bulletin, published by U.S. Government Printing Office on March 22, 2009. The length of the article is 1241 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Table 17… |
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Table 17.–Estate tax returns as a percentage of adult deaths, selected years of death, 1934-2001.(Selected Historical and Other Data)(Illustration): An … from: Statistics of Income. SOI Bulletin $5.95 This digital document is an article from Statistics of Income. SOI Bulletin, published by U.S. Government Printing Office on September 22, 2004. The length of the article is 1182 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web b… |
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Owning Natural Resources: Cost & Percentage Depletion Making Both Work For You $18.95 Owning Natural Resources (T/G 402) covers the tax law peculiarities of land and its mineral deposits, the subdivision, leasing, and mining thereof, the capital basis of “deposits in place,” oil and gas drilling, and the special treatment of exploration and development costs. Also covered – depletion allowances: Cost vs. Percentage, improvements and “receding face” costs, estimating number of “reco… |
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Retirement Without Borders $13.43 A practical guide to retiring abroad profiles top-recommended, affordable, expatriate-friendly locales around the world, in a reference that shares step-by-step recommendations for a range of topics, from real estate and health care to taxes and living… |
