basis Archives - BeachFleischman CPAs

There’s currently a “stepped-up basis” if you inherit property — but will it last?

July 20, 2021 July 21, 2021 Tax Department Estates & Trusts, Tax Bites basis, charitable giving, estate planning, gifting, inherited property, property inheritance, tax planning

Have you inherited assets or are you planning your estate? If so, it’s crucial to understand the current “step-up” basis rules and why they might change.

Home sales: How to determine your “basis”

April 14, 2021 April 15, 2021 Tax Department Real Estate, Tax Bites basis, home sales, home sales tax, tax savings

When you sell your home, you’ll pay tax (or avoid it) based on the “basis” of the property. Here’s how to determine yours.

Do you know the tax implications of your C corp.’s buy-sell agreement?

April 26, 2017 April 25, 2017 Tax Department Tax Bites basis, buy-sell agreement, C Corporation tax consequences, cross-purchase agreement, tax implications, transfer of ownership interests

Private companies with more than one owner should have a buy-sell agreement to spell out how ownership shares will change hands should an owner depart. For businesses structured as C corporations, the agreements also have significant tax implications that are important to understand. Buy-sell basics A buy-sell agreement sets up parameters for the transfer of[ … ]