Inheritance Tax – DougFreemanCPA.com

Inheriting stock or other assets? You’ll receive a favorable “stepped-up basis”

If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. How do the rules work? Under the current fair market value basis rules (also known as the “step-up and step-down” rules), an heir receives a basis in inherited property equal to its date-of-death […]

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Factor in taxes if you’re relocating to another state in retirement

Estate Tax, Federal Taxes, Income Tax, Local Taxes, Personal Residence, Retirement, State Tax, Tax Planning / Douglas Freeman

Are you considering a move to another state when you retire? Perhaps you want to relocate to an area where your loved ones live or where the weather is more pleasant. But while you’re thinking about how many square feet you’ll need in a retirement home, don’t forget to factor in state and local taxes.

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Thinking about moving to another state in retirement? Don’t forget about taxes

Estate Tax, Federal Taxes, Income Tax, Individual Income Tax, Personal Residence, Retirement, Sales Tax, State Tax, Tax, Tax Planning, Tax Savings, Vacation Rental / Douglas Freeman

When you retire, you may consider moving to another state — say, for the weather or to be closer to your loved ones. Don’t forget to factor state and local taxes into the equation. Establishing residency for state tax purposes may be more complicated than it initially appears to be. Identify all applicable taxes. It

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