đź’° Do THIS To Create Generational Wealth #shorts

28.8K viewsabout 3 years ago0m 37sScore: 80

Sean Pan

Pricing & Profitability
beginner
Tax Strategy
Bookkeeping
Profitability
Investors

Summary

This short video explains why gifting a home to your child before death can result in the child owing capital gains taxes on the appreciated value of the home. The speaker suggests placing the property into a trust with the heir as the beneficiary, allowing for a "step-up in basis" upon death, thus avoiding capital gains taxes on the appreciation.