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There’s a favorable “stepped-up basis” if you inherit property

There’s a favorable “stepped-up basis” if you inherit property

by Insight Accounting Group | Apr 21, 2023 | Estate Planning, Taxes

There’s a favorable “stepped-up basis” if you inherit property A common question for people planning their estates or inheriting property is: For tax purposes, what’s the “cost” (or “basis”) an individual gets in property that he or she inherits from another? This is...
The 2022 gift tax return deadline is coming up soon

The 2022 gift tax return deadline is coming up soon

by Insight Accounting Group | Mar 14, 2023 | Estate Planning, Taxes

Did you make large gifts to your children, grandchildren or other heirs last year? If so, it’s important to determine whether you’re required to file a 2022 gift tax return. And in some cases, even if it’s not required to file one, you may want to do so anyway. Filing...

Recent Posts

  • Questions you may still have after filing your tax return
  • Paperwork you can toss after filing your tax return
  • There’s a favorable “stepped-up basis” if you inherit property
  • Two important tax deadlines are coming up — and they don’t involve filing your 2022 tax return
  • The 2022 gift tax return deadline is coming up soon
  • Claiming losses on depreciated or worthless stock
  • Awarded money in a lawsuit or settlement? It’s only tax-free in certain circumstances.
  • Tax Court Case Illustrates Why Mileage Logs are Important:
  • Insight’s comprehensive 2022 payroll reporting guide.
  • Does my business qualify to claim the Employee Retention Credit (ERC)?

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