Can You Explain the Concept of Step-Up Basis? – Annapolis and Towson Estate Planning
There are several tax concepts that are important for real estate investors, but for many people, step-up in basis is one of the least understood.
What Happens to Estate Tax Benefits After 2025? – Annapolis and Towson Estate Planning
Taxpayers can benefit from higher thresholds for U.S. estate and gift taxes, even if they don’t die until after the tax overhaul expires in 2026, the Internal Revenue Service said.
Will We Have to Pay Gift Taxes if We Give a Rental Property to Our Son? – Annapolis and Towson Estate Planning
How should we best do this, so that we avoid future gift taxes?
Will My Heirs Need to Be Ready to Pay Estate Taxes? – Annapolis and Towson Estate Planning
I'm in my 80s and have a substantial sum in retirement accounts that I plan to leave to my children. Will they have to pay estate taxes on it?
Do My Heirs Need to Pay an Inheritance Tax? – Annapolis and Towson Estate Planning
Inheritance tax is a state tax on a percentage of the value of a deceased person's estate that's paid by the inheritor of the estate.
Why Should I Pair my Business Succession and Estate Planning? – Annapolis and Towson Estate Planning
Thinking of exit and estate planning in tandem, allows owners to ask relevant questions to bring their entire picture into focus.
Should We Include Our Children in Our Charitable Giving Plans? – Annapolis and Towson Estate Planning
Apparently, your rich grandpa can’t donate his fortune to charity in peace.
Will the IRS Say It’s a Gift, If I Sell My House to my Son at a Great Price? – Annapolis and Towson Estate Planning
My wife and I have agreed to sell our house to our son. The bank-appraised value of the property is $700,000 and we are selling it to him for $340,000, which is the amount of the mortgage. How will the $360,000 be treated and are there tax consequences?
What are the Details of the New SECURE Act? – Annapolis and Towson Estate Planning
The SECURE Act (Setting Every Community Up for Retirement Enhancement, H.R. 1994) is still working through the Senate, after passing the House in May.
Filing Taxes for a Deceased Family Member – Annapolis and Towson Estate Planning
When a financially comfortable loved one departs, a bevy of tax issues can come into play.