Estate Planning: What Are You Waiting For?

People tend to avoid estate planning like it’s the plague. However, no financial plan can be complete without one. Sure, thinking about your own demise doesn’t rate high on the ‘fun scale,’ but not everything in life does.

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Gift Taxes and Property Transfers: Estate Planning Basics

Now that you rented your old house to your daughter, that home may be considered a rental home on your federal income tax. You get to treat that as an investment property and can take some of the tax advantages available to investors, including taking depreciation on the home, deducting expenses for the upkeep, as well as deducting real estate taxes and other expenses.

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