As the end of the year approaches, your tax plan might involve selling assets to take advantage of beneficial capital gain rates, which can be as low as zero percent for 2011. The success of your planning efforts depends in part on knowing your investment in the property you’re selling. In tax terms, that’s your basis, which is used to calculate your gain or loss. (more…)
Posts Tagged ‘estate’
Choosing Your Executor: A Critical Estate Planning Decision
An executor is the person or legal entity that you appoint in your will to settle your estate after your death. It is common practice to name your spouse or one of your children (often the first born) to be the executor of your estate. (more…)
Tax Tip Tuesday! Estate Basis Rules Might Affect You
Are you the beneficiary of an estate created in 2010? If so, you might want to start thinking about your basis in the assets you inherited. (more…)
Don’t Overlook State Taxes in your Tax Planning
To keep more of what you make, tax planning at both the state and federal level is essential. Even if you live in an income tax-free state, you may not be able to escape state taxes entirely. (more…)
