Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.
A guide to couples financial therapy Clients who receive a windfall, such as an inheritance or the sale proceeds of a family business, are advised to discuss how they plan on using the money with their spouses, according an expert at Motley Fool. They should make themselves aware of certain tax rules if the inheritance is in a retirement plan, such as a 401(k) or an IRA. Those who receive investments outside of a retirement account may sell the assets without any tax consequences because of what’s known as a stepped-up cost basis.
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