Taxes

Spring 2014 Newsletter

Portability Explained Preserving Estate Tax Exemptions for Married Couples.
You’ve Been Named Successor Trustee – What Does That Mean?
FREE SEMINAR – SUCCESSOR TRUSTEE DUTIES – Wednesday April 9, 2014 at 2:00 p.m 970 W. 190TH STREET, TORRANCE, CA 90502
Spotlight: Accident Law, The Most Important Thing You Can Do Before Your Accident By James L. Pocrass, Esq. Pocrass & De Los Reyes LLP
WHEN WAS THE LAST TIME YOU REVIEWED YOUR TRUST? WE OFFER FREE THREE YEAR REVIEWS!

What does Stepped Up Basis mean?

The “Stepped up Basis” (new value) is a new basis which is available to property received through inheritance. The basis of a property is the value used to determine gain or loss for income tax purposes. Basically, it is the cost of the property (what you...