Tax Basis

Selling Your Home for a Big Profit? Here Are the Tax Rules

September 5th, 2023|Categories: Accountant, Accounting, Burns Firm, Capital Gains Tax, CPA, CPA Dallas, CPA near me, Dallas CPA, NIIT, Selling A Home, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, The Burns Firm|Tags: Capital Gain Tax, CPA Dallas, cpa near me, Home sales and gain, NIIT, Selling a Home and Taxes, tax, tax advisor, Tax Basis, Tax for selling my home, Tax Rules for Selling A Home, The Burns Firm|

Many homeowners across the country have seen their home values increase in recent years. According to the National Association of Realtors, the median price of existing homes sold in [...]

There’s a Favorable “Stepped-Up Basis” If You Inherit Property

May 4th, 2023|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Inheritance, Services, Tax, Tax Advisor, Tax Basis, Tax Deductions, Tax Planning, Tax Preparation, tax preparer near me, The Burns Firm|Tags: cpa near me, Property Inheritance, Stepped-Up Tax Basis, tax, tax advisor, Tax Basis, Tax basis on inherited property, The Burns Firm|

A common question for people planning their estates or inheriting property is: For tax purposes, what’s the “cost” (or “basis”) an individual gets in property that he or she [...]