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Comment “book” for free bestseller, Legally Ever After and discover more about trusts and the 6 step plan to protect your children’s future and happiness. Follow @lawmotherco for more legal and money tips. #realestate #house #livingtrust #estateplan #lawmother #generationalwealth #taxtips #legaltips #moneytips #daddaughter This is not specific legal or tax advice. This is educational only. Please consult with a legal and tax professional with regard to your specific needs.
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Comment “book” for free bestseller, Legally Ever After and discover the 6 step plan to protecting your children’s future and happiness. Section 121 Exclusion is an IRS rule that allows you to exclude from taxable income a gain of up to $250,000 from the sale of your principal residence. A couple filing a joint return gets to exclude up to $500,000. To get the exclusion a taxpayer must own and use the home as their main residence for a period adding up to two years out of the five years before it is sold. Follow @lawmotherco for money and legal tips. This is not specific legal or tax advice. This is educational only. Please consult with a legal and tax professional with regard to your specific needs. #realestate #tax #finance #legal #lawyer #lawmother #generationalwealth #home #irs
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Comment “book” for free bestseller, Legally Ever After and discover more about trusts and estate planning. Never add your adult child as a joint holder on your bank accounts and real estate, this creates tax issues and assets can be lost to divorces and creditors. Instead consider holding your assets in a trust for better protections. #livingtrust #generationalwealth #estateplan #banking #divorce #momdaughter #comedy #legaltip #lawmother #personalfinance #legacy #tax #family Follow @Lawmotherco for Legal and Money Tips.
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