Income tax basis is important in tax and estate planning. This article examines the concept of income tax basis, how one acquires a basis, how it gets adjusted, etc. The article then examines how the basis is subtracted from the sale price to determine gain or loss. The next article in the series will examine how income tax basis is an important factor in estate planning.
Attorney Daniel A. DeBruyckere has been practicing law in New Hampshire and Massachusetts since 1998, and has helped hundreds of clients with their estate planning and elder care issues. He is very well respected in the area of estate planning, probate, trust administration, elder law issues, and business planning.
Latest posts by Daniel DeBruyckere (see all)
- The Other Side of the Unauthorized Practice of Law - October 21, 2021
- Estate Planning Reduces Stress During High Anxiety Times - October 19, 2021
- Changing “Irrevocable” Trusts Through Use of a Trust Protector - October 14, 2021
