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Video instructions and help with filling out and completing Are Form 4797 Reduce

Instructions and Help about Are Form 4797 Reduce

For most people, tax planning means saving income and capital gains taxes, not estate taxes. - In this video, Bill talks about how community property trusts can be used to greatly reduce capital gains tax on the state tax return. - Right, when you file the state tax return, you file the same return instead of Maryland. - They somehow object to the stepped-up basis. I believe you can buy the jurisdiction for Maryland state purposes of Virginia agency as well, but I think that's neither here nor there. - The point is, if you end up where you would add and not have done this, what else could you have done? And the answer is, this is a home run. - Let's go into more detail on the strategy. - Okay, yes, I have two comments on the sulfonyl trust. - Does it make sense to have one for life to hold an island and the other one to hold the asset that you want to have appreciated? - I think it depends on what your objectives are, but in the ones that I had done, we actually had the life trust hold the island and the other trust hold the appreciated asset.