Recent Posts Tagged With 'gifting'

• Stepped-Up Basis to be Replaced by Carry-Over Basis

  Posted on Friday July 31st, 2009 at 09:46 in income tax, gifting, capital gains tax, tax basis, irc §1014, irc §1022, stepped-up basis, carry-over basis

  When you purchase an asset, the purchase price becomes your tax basis for that property. If you later sell that asset, your tax basis is used to determine your capital gain or loss for tax purposes. If you receive property by gift, you take the don...

• A Charitable Alternative to Cashing in Your Life Insurance

  Posted on Wednesday May 13th, 2009 at 20:14 in charity, Life Insurance, income tax, estate tax, gifting, charitable deduction, beneficiary designation, cash surrender value

  In our prior post, we addressed the possibility of a life settlement as an alternative to taking the cash surrender value of an unneeded life insurance policy.  Another alternative is gifting the policy to a charity and taking an income tax charitab...

• When a Restricted Gift is Not a Restricted Gift

  Posted on Thursday April 23rd, 2009 at 19:51 in charity, endowment, gifting, unrestricted gift, restricted gift

  As universities feel the pinch of the recession, many of them are looking for sources of money to cover operational expenses.  One important source is endowments.  Universities love unrestricted gifts, because the money is theirs to use as needed t...

• Timing is Everything

  Posted on Wednesday December 10th, 2008 at 11:32 in charity, stock, estate tax, gifting, clt, qprt

  When markets are down, opportunities abound. People interested in reducing the size of their estates can often maximize their gifting during downturns in the market, both real estate and stock. With respect to real estate, one can gift their residen...