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21
JUL
2020
Take advantage of a “stepped-up basis” when you inherit property

Take advantage of a “stepped-up basis” when you inherit property

If you’ve inherited assets or you’re planning your estate, it’s crucial to understand the fair market value basis rules (also known as the “step-up and step-down” rules). That way, you won’t pay more tax than you’re legally required to.
17
MAR
2020
INDIVIDUAL TAX BRIEF FOR MARCH 17

Why you should keep life insurance out of your estate

You bought life insurance to protect your family or other beneficiaries. Here’s how to avoid having the benefits be subject to federal estate tax.