Capital Gains Tax Planning for Older Americans
At death there is a step-up (increase) in basis that invites people to hold on to assets rather than sell them. However, not everyone wants to hold on to appreciated assets for the benefit of their heirs’ income tax savings. There are, for most assets, at least a half dozen ways to reduce, defer or eliminate capital gains taxes. These benefit the parent (older American) but do not necessarily harm their heirs. Timing is the most important element in this planning. So if you understand enough about these now, you will listen for the magic words: `You know, I’m thinking of selling my business/building in two to three years.
About our Speaker
Bruce Givner is rated as a California “SuperLawyer” and has had a Martindale-Hubbell AV – Pre-eminent Peer Review Rating for over 35 years. He has written three books on estate tax planning and one on community property for the California CPA Society and two on estate planning for the AICPA. Bruce graduated from U.C.L.A., Columbia University’s Law School, and N.Y.U.’s Graduate Tax Law Program. His most recent book, available on Amazon, is My Watergate Scandal Tell-All: How I Unwitting Caused This Historic Event.
