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The Difference Between an Inherited Asset and a Gift Received

Posted in Tax News on August 18, 2013

Whether you receive an asset from inheritance or from a gift can have significant tax impact when this asset is sold. Inherited Asset For an inherited asset you generally take this asset over at the Fair Market Value at the…

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How to Calculate Your Cost Basis and Save Money…Guaranteed

Posted in Tax News on August 11, 2013

When you sell a capital asset you need to know when you purchased it and what the cost basis is.  These will be used to determine what your capital gain (or loss) is.  Capital assets are items such as stocks,…

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