TAX IMPLICATIONS FOR SALE OF PROPERTY
My wife and i are going to transfer in the near future with a company buy-out for our home and property. This is our first home and would like to know the tax implications of the buy out with a cash profit settlement. Are we required to re-invest into real estate to avoid taxation up the wazoo or can we settle with cash profit and fear nothing. What other options do we have with the buy out?? 
Based upon the information you have provided and depending upon the length of time you have both owned and occupied the house as your primary residence, the profit on the sale (to your company) may be tax free.
Consult your personal tax advisor for specific details.
You can usually exclude up to $500,000 in capital gains for a married couple pursuant to Section 121 of the Internal Revenue Code, assuming that you have lived in the property for at least 24 months out of the last 60 months. There are exceptions to the 24 month requirement, including relocation for work. Your tax advisor can provide you with more specific information and determine if you qualify after reviewing your specific situation.
[addsig]