The Trump administration is changing many prior policies, but supporters of this proposal are calling for further action to ...

On May 22, 2025, the U.S. House of Representatives passed the “One Big Beautiful Bill Act” (the “BBB”) as part of the Republican ...

If your mother purchased the home for $100,000 and it's now worth $800,000, gifting the home to you assumes that the tax basis in the property is $100,000, not $800,000 and/or the value at the time of ...

Learn about tax-advantaged investments, their types, benefits, and risks. Discover optimization strategies and future trends ...

None of the five circumstances discussed in the memo fit that definition. But three of them qualified for a separate deduction tied to the tax basis of their losses at the hands of "Scammer A." ...

HMRC taxes your first withdrawal on a "month 1” basis, meaning it assumes you will withdraw the same amount every month for the rest of the tax year. In reality, some savers might withdraw a ...

754 election in effect, a partnership-level tax basis adjustment is required when an LLC interest ... tax year and for all subsequent transfers unless the LLC fails to meet the definition of an EIP, ...

In today’s Living Akamai segment, John spoke with Kay Mukaigawa of Engel & Volkers Honolulu about an important topic in real estate and estate planning: cost basis and the stepped-up basis rule.

Come next year, you will be allowed to save a little more in your 401(k) on a tax-deferred basis than you can this year, unless you’re in your early 60s, in which case for the first time you ...

LIFO tax rules dictate that earnings are always ... Inherited non-qualified annuities don’t benefit from a step-up in basis — meaning the taxes remain unchanged — but can be taken over ...