Let’s say divorcing spouses own part of the stock in a closely held corporation. This may be one of their biggest marital assets, and often one spouse decides to buy out the other party’s shares by transferring some assets in exchange for the stock. Before jumping headfirst into these transfers, it’s important to consider the expected…
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Computing Tax Basis Counts when Selling a Highly Appreciated Home
Residential real estate prices in many markets have surged over the last few years. As a homeowner, you may be sitting on a significant unrealized gain, especially if you’ve owned your principal residence for a while. That’s good news if you’re ready to sell, but will you owe taxes on the profit when you sell? Thankfully,…
Contending With the Rising Cost of Long-Term Care
According to LongTermCare.gov, approximately 70% of Americans will need long-term care (LTC) at some point in their lives. This could mean in-home nursing help or an extended stay in a nursing home or assisted-living facility. You’ve probably heard of LTC insurance and may have received mixed messages about it vs. other funding options. The truth is,…