The wealthy often avoid earned income, which means they escape payroll taxes entirely and ordinary income rates under the ...
Q: My wife and I own two real estate properties. We plan on leaving those properties separately to our two sons when we pass. We would like to make sure that we minimize any related federal taxes ...
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 ...
In our latest Ask the Editor round-up, Joy Taylor, The Kiplinger Tax Letter Editor, answers questions on gifts, the estate tax and stepped-up basis upon death. Question: I am planning to gift my son ...
I noticed this tweet from a wealth adviser: “The greatest perpetuator of U.S. wealth inequality is the stepped-up basis rule. Basically, when you die, all the capital gains on your assets (home, ...
The federal estate tax affects only about 0.1% of Americans. However, the repeal of that tax could affect all of us. This article addresses what you should know as Congress considers pending estate ...
For families locked into highly appreciated stock that could bring a big tax hit from the capital gains on any sale of the holdings, a so-called upstream gift could offer a solution. But the potential ...
If my mother sells or gifts me her $800,000 personal residence to me, my understanding is that I also get her adjusted cost basis. If she holds a note for 100% of the purchase price and then gifts me ...
Dear Liz: I own several properties. I have a living trust that names my two minor children as beneficiaries. I’ve told my attorney that I want to transfer the properties to my children using the ...
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