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If you’re a senior, it’s possible you may need a sizable chunk of cash to meet expenses or maintain your lifestyle.
That’s where a reverse mortgage can come in.
A reverse mortgage is a kind of loan that lets homeowners, ages 62 and older, borrow part of their home equity as tax-free income. (In the full article, I’ll provide a lot more information about what a reverse mortgage is and what it can do for you.)
How you can use a reverse mortgage
as a powerful tax-planning tool.
Yes. A reverse mortgage can be a wonderful way to take cash out of your home.
But, as you’ll learn in my new, complete article, a reverse mortgage can also save you a boatload of taxes when you use it the right way.
How the basis step-up rules
can come to your rescue.
It’s a fact. The combined federal and state income-tax-hit that comes from selling your appreciated home could easily reach into the hundreds of thousands of dollars. Ouch!
That’s why you need to understand the “step-up rule” that can save you a ton of money.
You see, the federal income-tax basis of your appreciated capital-gain asset (in this case your personal residence) can be stepped up to fair market value.
This step-up can result in
favorable tax treatment and huge savings!
How does this work? What are the complete step-up rules?
You’ll find out when you read my new issue of the Tax Reduction Letter.
It’s devoted to explaining this important subject in great detail. You’ll learn plenty (guaranteed!), when you…
CLICK HERE to get my complete article…
“How To Use a Reverse Mortgage
as a Tax Planning Tool”