I`ve read so much conflicting advice on - no follow links. Can you clear it up for me?

Selected answers from the Dumb SEO Questions Facebook & G+ community.

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  Luke Chapman: Only paid/advertising links. Anything that's not "natural".
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  Luke Chapman: http://googlewebmastercentral.blogspot.com.au/2013/02/a-reminder-about-selling-links.html
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  Adriano Di Palma: Google can never really know for sure what is paid and what is not, so there's no definitive answer. In that case, it really comes down to risk management, which means no-following any really obviously paid links especially those that are sitewide and/or exact match anchor text. Those are the things that could really trigger alarm bells.
  
  https://support.google.com/webmasters/answer/66356?hl=en
  
  But I definitely wouldn't go to the extent of no-following all external links, I don't think Google would ever want that.
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  Kate Toon: Thanks guys, that's great. Appreciate your answers and the links.
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  Kasey Moore: My sort of policy. If it adds value to the article say a source or a reference point then you should absolutely not use nofollow as it's part of the articles DNA.
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  Ranu Jain: Hi Kate,
  
  First of all there is nothing like no follow links just for an average small business. Algorithm updates and rules are more or less same for all the web properties.
  
  Everyone has given some excellent suggestions and responses. I would like to add one more here is that apart from paid/ advertising links, Google has come up with a new thing - ;“Links with optimized anchor text” in press releases need to be nofollowed. ;
  
  Check out this link: ;http://searchengineland.com/google-links-in-a-press-release-should-be-nofollowed-like-advertisements-168339