Market Value Vs. Appraised Value

When it comes to real estate, there must be a meeting of the numbers for a property sale to take place. The value a buyer puts on a property can vastly differ from the value a seller or lender places upon it. The seller, the buyer and the lender must find an agreeable value to […]

The “Step Up” Tax and How it Works

Stepped-up basis is a tax law that applies to estate transfers. When someone inherits investment assets, the IRS resets the asset’s original cost basis to its value at the date of the inheritance. The heir then pays capital gains taxes on that basis. The result is a loophole in tax law that reduces or even […]