Transferring property to loved ones might seem like a simple, generous act, but there’s more going on behind the scenes than many people realize. Whether you’re giving away your home, ...
There is much confusion about the impact of the “phase-out” of itemized deductions for high income tax payers. As we noted in last week’s post, under the new federal tax ...
Inheriting a parent’s real estate can certainly be a good thing. But, it can be complicated with regard to various tax issues. Below is a simple example to help you ...
People are often confused regarding what taxes and other expenses must be paid out upon an individual’s death. Frequently, people believe that once a person passes away, the beneficiaries receive ...
The Internal Revenue Service (IRS) has announced that for 2016 the estate and gift tax exemption limit increases to $5.45 million per person, an increase from $5.43 million per person. A qualifying ...