Explore the nuances of Capital Gains Tax vs Income Tax, their impact on financial planning, investment strategies, and ...

In this week's Ask the Editor Q&A, Joy Taylor answers tax questions on the gain exclusion tax break when you sell your home.

A short grantor trust walks into a bar. After a few too many drinks he starts flirting with a pretty beneficiary, promising her a step up in his assets. But before he seals the deal, the bartender ...

Below, we highlight the most relevant updates for private wealth clients, incorporating additional insights and planning considerations from recent estate and tax law developments. Top Marginal Tax ...

Two recent cases confirm that the income tax basis of inherited property is the same as the amount agreed upon for estate tax purposes. The Second and Ninth circuit courts of appeals held that two ...

On January 10, 2025, the United States Internal Revenue Service (the "IRS") released final regulations (the "Final Regulations") under section 6011 of the Internal Revenue Code of 1986, as amended ...

TurboTenant reports that the IRS will know about your rental income, and failing to report it can lead to serious penalties ...

Rental property ownership has its benefits, but selling can create a big tax hit. Thankfully, there are a few strategies you ...