Harnessing the power of step-up in cost basis
April 17, 2024
For those looking to efficiently transfer wealth, here are some considerations and strategies when planning for step-up in cost basis.
April 17, 2024
For those looking to efficiently transfer wealth, here are some considerations and strategies when planning for step-up in cost basis.
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Potential changes in estate and gift tax laws are causing some individuals to review plans and choose how to pass wealth to beneficiaries.
For individuals considering a distribution or rollover it is important to understand the options around company stock in a retirement plan.
Individuals saving for retirement may overlook state taxes which can mean a larger tax bill in retirement than expected.
Treasury report offers a look at potential policy items such as tax hikes that could be proposed in the future.
With more states requiring workplace savings plans it may be an opportune time for businesses to establish their own retirement plans now.
Without additional resources single households may be more vulnerable to financial shortfalls, making financial planning particularly important.
In order to take advantage of the tax benefits, it is important to take a deeper look at HSAs and understand how they work.
Taxpayers may want to consider these income and estate tax planning strategies to save more and try to reduce taxes.
At some point, the debt trajectory will drive discussions on Capitol Hill to increase revenue, which could result in higher taxes.