In the past, the IRS has denied valuation discounts for fractional undivided interests in the work of art. As a
Continue Reading Estate Tax Implications for Fractional Art Ownership
Why the Money in a Joint Account May Not Be Distributed to the Survivor (or how uneducated plans go wrong)
By Katya Sverdlov on
Posted in Taxes
Many people think that if they put their money in a joint account, the survivor will automatically inherit the funds…
What gifts can you make without informing the IRS? Why would you want to give large gifts during your lifetime?
By Katya Sverdlov on
Posted in Taxes
Every person has a lifetime gift and estate tax exemption of $5.43MM (this number rises with inflation). Generally, most gifts…
What is the Step Up Basis that Obama Wants to Eliminate?
By Katya Sverdlov on
Posted in Taxes
This is an extremely valuable tool in the long term tax planning that saves middle class thousands of dollars in taxes every…
Continue Reading What is the Step Up Basis that Obama Wants to Eliminate?