Take advantage of a “stepped-up basis” when you inherit property

If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. Fair market value rules Under the fair market value basis rules (also known as the “step-up and step-down” rules), an heir receives a basis in inherited property equal to its date-of-death value. So, […]

Taking care during coronavirus

Businesses are slowly beginning to reopen and different areas are relaxing some of the requirements to shelter in place as a result of the COVID-19 health crisis. As we move into this next phase, it is important to remember that seniors and individuals with underlying health conditions remain vulnerable to coronavirus, but also to remember […]