How to help your adult child buy a home in today’s overheated market. As I’m sure you know, today’s home prices have skyrocketed, which means it can be very difficult for your adult child to buy a home. What you may not know is there are creative ways for you to help make home-ownership a reality for them. If you are planning to leave your home for any reason, here’s a … [Read more...]
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Potential Estate and Gift Tax Threat: Should You Worry?
If you’re financially well off, there’s an unpleasant fact you have to face… Today’s extremely favorable federal estate and gift tax rules may not survive the year! Why? Because our country might finally be forced to confront the issue of huge federal budget deficits made worse by costly federal COVID-19 relief measures. The result? As a way to pump more tax money into … [Read more...]
Avoid the Gift Tax—Use the Tuition and Medical Strategy
Are you going to have to pay gift and estate taxes? It you’re certain that you won’t have to, you may be dead wrong! You see, you may think that you don’t have a problem because your gift and estate taxes come to less than $11,580,000. (Or $23,160,000 for a married couple.) But here’s the reasonyou may be in for a shock… Lawmakers have already votedto drop the … [Read more...]
Five ways to help your adult child buy a home
Homeownership is part of the American dream. Which is why you may want to help your adult child make that important purchase. But before you pick up your checkbook, consider the tax consequences of helping out. You see, homeownership comes with some giant tax savings if you know how to play the game the right way. We’ll show you how when you read my new article titled … [Read more...]
Be careful gifting business property!
Whoever said “It’s better to give than to receive” never read the tax code. You see, if you make a gift of business property the wrong way, you could wind up losing valuable tax benefits. How can you make gifts of business property to your children or others and avoid problems with the IRS? Easy. Read my new article titled Tax Tips: Beware When Gifting Business … [Read more...]