Income tax basis is important in tax and estate planning. This article examines the concept of income tax basis, how one acquires a basis, how it gets adjusted, etc. The article then examines how the basis is subtracted from the sale price to determine gain or loss. The next article in the series will examine how income tax basis is an important factor in estate planning.
- Securing a Strong Retirement Act Has Been Approved By House - June 23, 2022
- Life Insurance Can Be Part of a Creative Estate Plan - June 7, 2022
- Why Would I Use an Irrevocable Trust? - May 19, 2022