Portability Ensures that Couples Receive Full Benefit of their Estate Tax Exemptions
The term “portability” describes a provision added to the federal estate tax law in 2010 that allows the surviving spouse’s estate to take advantage of any estate tax exemption that the deceased spouse did not use. Until the estate tax exemption was made portable, if the estate of the deceased spouse did not take full […]
What are the Tax Consequences of Your Business’s Succession Plan?
When it comes to succession planning, small business owners usually try to address everything from maintaining day-to-day operations to ensuring that their families retain whatever equity they have in the company. But the tax implications of the plan are often an afterthought, if the issue is considered at all. While taxes should never be the […]
How Should Bay Area Property Owners Shield Parent-Child Real Estate Transfers from Increased Tax Assessments?
In 1986 California amended its constitution to allow parents to pass real estate on to their children without subjecting their children to the spike in property taxes that accompanies changes in ownership in areas where real estate values have increased. This is often a significant issue for Bay Area residents who are seeking to pass […]
