11 USC 522(d)(6) exempts "tools of the trade", including "professional books". Are these regular books you can get at a Barnes & Noble or Borders (anything in the Real Estate section for real estate investors & realtors, anything in the computer section for software engineers, etc) or does this specifically refer to professional licensure ("bar exam" books for lawyers, that sort of thing)?
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What are "professional books"?
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If you buy it at Barnes & Noble, it probably is not considered a "professional" book. What you are looking at with professional books are things such as law journals, medical books, etc. Keep in mind however, that used books are pretty much worthless.All information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event.......
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Originally posted by randian View Post11 USC 522(d)(6) exempts "tools of the trade", including "professional books". Are these regular books you can get at a Barnes & Noble or Borders (anything in the Real Estate section for real estate investors & realtors, anything in the computer section for software engineers, etc) or does this specifically refer to professional licensure ("bar exam" books for lawyers, that sort of thing)?
And if you are just a hobby doctor, then your expensive medical books would not be professional either, while a cheap paperback book on real estate law could be professional if you are a licensed broker.
The resale value of so-called professional books is usually 10-20% of their retail cost, if you tried to sell them on the Internet or to a used book store. A rare exception is an older technical book that sold for $30 in 1970, and today the same edition sells for $300. A dealer would try to sell the book at $150 and maybe give you $20 on a good day. That happened to me when I sold some of my obscure graduate level engineering books.“When fascism comes to America, it’ll be wrapped in a flag and carrying a cross” — Sinclair Lewis
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