Tag: estate
SR Video Client Question: “What are the benefits of year-round tax planning?”
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SR Client Question: Can adding my child to our Michigan home’s title prevent the property tax value from uncapping when I pass?
If you add your child as a co-owner of real property, he or she won’t get a full step up in basis when it is sold after your passing. Also, there is a risk of re-assessment for real estate taxes...
What happens to tax basis upon death of a business partner?
Upon an individual's death, the estate must report the tax basis of all assets for estate tax purposes based on their fair market values at the date of death or an alternate valuation date if elected. Assets exceeding their tax...