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Month: December 2019

1031 Exchange: Federal and New York Law

Ordinarily, if you buy an asset and its value appreciates, you must pay capital gains tax when you sell the asset. If you are in a low income tax bracket, no capital gains tax might be due. For most taxpayers, the federal capital gains tax rate is 15% and for some it...

Adding Sweat Equity Members in LLCs

In the best of all possible worlds, equity in an LLC is acquired by a cash buy-in. But often, one member of the LLC has cash, yet the other does not, and can’t acquire it other than through sweat equity. In another scenario, an LLC wants to grant a valued employee...