Home to your children: Do it today or through your will
Article Abstract:
Parents who are undecided on whether to gift their home to their children through their will or now that they are still living have four choices. Gifting through wills will enable substantial tax savings as the assessment of capital gain taxes when the house is sold will be increased to its fair market value at the time of the parent's demise. Other options include gifting home while the parent is still living and using the $600,000 home exemption, and selling home, using the exemption and gifting cash.
Publication Name: The Business Owner
Subject: Business, general
ISSN: 0190-4914
Year: 1997
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How to evaluate a retirement plan covering you and employees
Article Abstract:
Business owners can evaluate their tax-deductible retirement plans covering the owner and his employees by computing the owner's annual contribution and the after-tax cost for the employees. All considerations such as legal costs and government rules should be taken into account in creating and maintaining IRS-approved retirement plans. Owners should study the various retirement plan options to find the one that best suits the owner's goals.
Publication Name: The Business Owner
Subject: Business, general
ISSN: 0190-4914
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
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