Selling a Home Can Impact Taxes

Usually, profits are taxable. However, when selling a home, taxpayers may not have to pay taxes on the gain from the sale. Here are some points to keep in mind if selling a home this year. Exclusion of gain   Taxpayers may be able to exclude part or all of the gain from the sale of […]

IRS Proposes Regulations to Bar Discounts for Family Businesses

Valuation discounts are a significant component of estate planning. The IRS has used various legal theories to challenge discounts, but with limited success. In the most recent effort to curtail valuation discounts for family control entities (both active operating businesses and passive asset businesses, the IRS has issued new proposed regulations under section 2704 of […]