In today’s edition of Living Akamai on Living808, we dive into the world of real estate taxes, focusing on a critical concept: cost basis. Kay Mukaigawa, our real estate expert, shares a heartwarming ...

Inherited assets don’t have to incur added fees. Step-up in basis, also known as stepped-up basis, is a wrinkle in the federal tax code that can help heirs avoid or reduce taxes on inherited assets.

The basis step-up rule effectively wipes out any built-in capital gain when someone inherits an asset from a decedent. Because the amount of capital gain determines the amount of capital gains tax ...

Inheriting an asset grants a step-up in basis, setting cost basis to FMV at death, reducing capital gains tax. Controversy surrounds step-up in basis, as it significantly lowers taxes on inherited ...

Forbes contributors publish independent expert analyses and insights. I write about charitable giving and estate planning ideas. Many taxpayers created irrevocable trusts and transferred significant ...

If you manage an irrevocable trust or are considering creating one, recent Internal Revenue Service (IRS) changes may directly affect your estate planning. A new regulation modifies how the step-up in ...

Dear Liz: You recently responded to a reader’s question about protecting an intended bequest. In the answer you wrote, “Assets in the trust get a step-up in tax basis when the first spouse dies, but ...

Picture this: A hard-working family made the small-business leap of faith. For years, they burned candles on both ends, flirted with bankruptcy, and finally woke up one day with a net worth beyond ...

Estate planning usually involves determining how to pass assets on to younger generations. But instead of leaving a piece of real estate, bank account or burgeoning stock portfolio to your children, ...