Your house appreciated. A 30-year-old tax rule hasn’t.
Remember 1997? Titanic was still in theaters, CD players were cutting-edge, and Congress decided that if you sold your home, you could exclude up to $250,000 of gain (or $500,000 for married couples) from tax under … Continue Reading
The annuity guy dropped off the proposal and it has occurred to you that you don’t really know what an annuity is. Or you left my office, and I suggested that a Medicaid Compliant annuity (we'll get to those later -- see below) might be a good strategy.
And you still don’t … Continue Reading
In the last article, we looked at the general characteristics of various ways of owning real property, namely: fee simple, tenancy in common, joint tenancy with rights of survivorship, and life estates. I have “hotlinked” each property type so you can go back for a … Continue Reading
Understanding different ways of owning real estate is important because the way real property is titled influences Medicaid results, taxes, and probate avoidance. You may need to lockdown Medicaid, and you certainly don’t want to lose your house and land in the process. And, of … Continue Reading
Want to save a bunch of money? I’ll explain how here. But I’m warning you, the discussion can get a little dense because it involves the ‘T’ word (taxes). If you understand this topic, you’ll understand the single biggest tax break available to the 99% (the rest of us).
If you … Continue Reading