Tax Talk: Navigating the Complex World of Gifts, Rental Properties, and Step-Up in Basis
Join us for an insightful conversation with David Breinig, a seasoned tax expert, as we delve into the intricate world of tax implications surrounding gifts, rental properties, and step-up in basis. Discover how these factors can significantly impact your financial future.
In this episode, we'll explore:
Primary Residence Exclusions: How much can you make on your home and how can you avoid the taxes of selling?
Gifts: Learn about the gift tax implications, annual exclusion amounts, and potential consequences of gifting assets.
Rental Properties: Understand the tax benefits and challenges associated with owning rental properties, including deductions, depreciation, and capital gains.
Step-Up in Basis: Discover how the step-up in basis can affect the value of inherited property and its potential tax implications.
Gifts of Equity: Explore the tax considerations when gifting equity in a property or business.
Whether you're a homeowner, investor, or simply curious about tax planning, this episode offers valuable insights to help you make informed financial decisions. Don't miss out!
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Guest Contact:
David Breinig, CPA
https://www.davidbreinigcpa.com/
/ davidbreinig41
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