How to Enjoy the Property Step-Up Basis Tax Benefit – Also, What Is It?

How to Enjoy the Property Step-Up Basis Tax Benefit – Also, What Is It?

Adiel Gorel is a realtor and investor with decades of experience and a vast insight into real estate investing. He frequently speaks about how investors can go about buying real estate and earning a rental income, and how they can benefit from loans and tax breaks such as step-up basis tax benefits. In this video, he talks about the property step-up basis tax benefit to minimize tax liability on the heirs of a property.?

Key Insights:

• When investors buy rental homes as an investment, they get to claim depreciation on those homes. This lets investors claim valuable tax deductions.
• Adiel explains how investors can take advantage of depreciation, which decreases the notional value of the property, and how it can eventually become zero.
• When investors retain ownership of their property it increases in actual value and a home bought for, say $100,000 can increase very significantly in value.
• If an investor decides to sell the house because the value has risen so much, they will have to pay a substantial tax on this. However, they don't have to pay if they don't sell.
• Then later, if the heirs of the investor want to sell, they can take the benefit of the property step up basis tax benefit. Adiel explains how, because of this, the heirs don't have to pay tax.

Author, Investment Expert and Thought Leader, Adiel Gorel isn't just a specialist in his chosen fields but also a storyteller who makes complex issues easily accessible. Tune in to his show where he addresses diverse investment issues with a single aim to help you finance a long, comfortable life.

Have questions? Seeking the right information is the first step toward improving your financial health. Post your questions in the comment box below or get in touch with me directly.

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