Periodically Dan Penning will appear in the local media to discuss various matters relating to Cottage Law, Estate Planning, Business Succession Planning and Asset Protection.
Families Preserve Their Best Memories of the Family Cottage Through Succession Planning
One of the most significant tax advantages to owning a home comes at the back end of ownership, when you decide to sell it for a profit. A homeowner can exclude up to $250,000 of such profit from their federal capital gains tax. For married couples filing a joint tax return, the exclusion jumps to $500,000. This big tax break, however, does come with some basic requirements. It applies to the sale of only a “principal residence,” not a vacation home or investment property.
Have You Included Your “Digital Assets” in Your Estate Plan? Part 2 -- Does Your Estate Plan Include Provisions Regarding Your "Digital Assets"?Thu, 04/03/2014 - 09:25 — superadmin
In last week's blog, I introduced the concept of including digital assets in your estate plan. Today's blog is a follow-up providing additional substantive information regarding estate planning issues and planning for digital assets.
Have You Included Your “Digital Assets” in Your Estate Plan? -- If You Die, What Happens to Your Computer and All the Information Stored on it Or That’s Accessible Through Internet Access to Third-Party Sites?Thu, 03/27/2014 - 11:13 — superadmin
Are You A Great Leader? How Effective Are You as a Business Owner, Executive, Manager, Employee Or Even a Parent in Leading Those Closest to You?Wed, 02/19/2014 - 11:07 — superadmin
It is an honor to introduce my friend and colleague Dr. Tim Irwin’s latest book, Impact: Great Leadership Changes Everything.