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Non-Tech : Kirk's Market Thoughts
COHR 157.96-5.2%3:59 PM EST
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To: Kirk © who wrote (9561)5/2/2020 2:58:29 AM
From: Brian Sullivan  Read Replies (3) of 26463
 
The one huge tax loophole in California is the automatic step up in cost basis of inherited property.

All of the people your age or older are holding on to property that has seen huge gains, so huge that you can never sell them, But you can leave them completely tax free to your children or other heir.

It's too bad you actually have to die to take advantage of the tax break.

It such a huge tax dodge that I wouldn't be surprised if some people have faked their own death, in order to retire overseas.
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