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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (9561)	5/1/2020 10:09:53 PM
From: benwood	Respond to of 26463

I'm mindful of that, too, and recall an article I read about a year ago where people in Greece were doing everything possible to avoid being 'gifted' property, such as via inheritance, because with collapsing tax revenue, localities jacked up property taxes to unheard of levels, bankrupting many who had anything. It would just be a case of civil servants doing whatever they can to keep the revenue, and their jobs and pensions, intact. They will TRY to get me and others to pay 3x to 4x more in property taxes...

To: Kirk © who wrote (9561)	5/2/2020 2:58:29 AM
From: Brian Sullivan	Read Replies (3) \| Respond to 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.