global affairs
How is an S-corp taxed when sold?
Since an S-corp is a “pass-through” business, shareholders pay all of the taxes, not the firm itself. If the S-corp is sold, the company itself pays no ta...
Mar 12, 2026 1 views
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Global Affairs
Expert insights and detailed technical documentation about Global Affairs.
global affairs
When to sell a property in a foreign country?
U.S. Tax Fundamentals for the Sale of Foreign Real Estate. This is a common question we receive often. Namely, a person owns property in a foreign country...
Mar 12, 2026 1 views
global affairs
How do I sell an asset to a company?
A Few Things You Need to Know About Assets Assets Depreciate. You Need to Keep Good Records. Asset Sales Will Affect Your Business Tax. Deduct an Asset’s ...
Mar 12, 2026 1 views
global affairs
Who gets the house in a divorce settlement?
In California, each spouse or partner owns one-half of the community property. And, each spouse or partner is responsible for one-half of the debt. Commun...
Mar 12, 2026 1 views
global affairs
What is generally covered in a contract for sale of property?
A contract of sale lists all the relevant information pertaining to the sale of a property, including such things as names and address of the buyer and se...
Mar 12, 2026 1 views
global affairs
When did my mother leave the property to my brothers?
Q When my mother passed away in 2012, she left her property to me and my three brothers – the deeds have been changed accordingly. One of my brothers has ...
Mar 12, 2026 2 views
global affairs
Who owns the property in an LLC?
Since an LLC is a legal person, the property it owns is the property of the LLC, not of the members. The New York LLC Act is clear: “A membership interest...
Mar 12, 2026 2 views
global affairs
Do executors pay capital gains tax?
Where a property is sold by the executor or personal representative following the deceased death, the estate will be liable for any Capital Gains Tax. Exe...
Mar 12, 2026 1 views
global affairs
What are military spouses entitled to?
Most also receive a variety of allowances, special pays and bonuses depending on things like deployment, paygrade and military job. For most married servi...
Mar 12, 2026 2 views
global affairs
Does underpayment penalty apply to capital gains?
If you don’t pay them, you could be subject to a penalty. Common examples are rental income, interest, dividends, capital gains, and self-employment incom...
Mar 12, 2026 2 views
global affairs
How long do you have to live in a house before you can sell it?
The exclusion depends on the property being your residence, not an investment property. You must have lived in the home for a minimum of two out of the la...
Mar 12, 2026 2 views
global affairs
Can businesses be state owned?
A state-owned enterprise (SOE) is a legal entity that is created by a government in order to partake in commercial activities on the government’s behalf. ...
Mar 12, 2026 1 views
