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How to Have Your Cake and Eat It Too

Prairie Eco-Thrifter

With the help of an estate planning lawyer and your accountant you might be able to use one of these “have your cake and eat it too” ideas. Keep Your Asset, But Still Get An Estate and Gift Tax Break On it. million left tax-free to heirs.”. Get Income for Life From An Asset You Give Away. percent I.R.S.

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11 Things I learned After Owning a Vacation Property

Prairie Eco-Thrifter

I wanted a place for our family to gather – adult children and grandchildren along with us. I also wanted a bit more diversification in our portfolio and figured an additional piece of real estate could help that. The tax code for second homes used as rental properties is incredibly complex here in the US.

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