Business entity choice determines whether heirs get stepped-up basis on farm assets or just ownership shares upon death.

IN CERTAIN INSTANCES CPAs SHOULD CONSIDER preparing and reporting on financial statements using an “other comprehensive basis of accounting” (OCBOA). Tax-basis and cash-basis, including ...

A short grantor trust walks into a bar. After a few too many drinks he starts flirting with a pretty beneficiary, promising her a step up in his assets. But before he seals the deal, the bartender ...

Forbes contributors publish independent expert analyses and insights. Peter J Reilly is a Forbes contributor who covers taxes. Basis is a fundamental tax and accounting concept. When you sell ...

As most estate planners are aware by now, tax bills have been introduced by U.S. Sens. Bernie Sanders, Chris Van Hollen and others that, when aggregated, essentially eliminate every significant estate ...

The Treasury Department and the Internal Revenue Service are planning to withdraw regulations that labeled basis-shifting transactions among partnerships and related parties as "transactions of ...

When claiming a cost recovery deduction for an asset through amortization or depreciation, knowing the tax basis of each asset is essential for calculating the appropriate amount to write off each tax ...

The Internal Revenue Service allows S corporations to file their taxes on the accrual or cash basis -- though hybrid and other special methods are permitted in some cases. For your S corporation, ...

Cost basis affects capital gains taxes on investments. Cost basis varies by investment type and whether you purchased the asset or received it as a gift or inheritance. Optimizing cost basis can ...