Are We in Danger of Losing the Step Up in Basis (Part 2)
Last week we were discussing potential changes to the tax laws proposed by President Obama that would eliminate the step up in basis. Obama claims the target is wealthy Americans but the change could have a much bigger impact on average middle class citizens. That’s because with
Are We in Danger of Losing the Step Up in Basis?
A few weeks back, President Obama proposed, in his State of the Union address, that the “step up in basis” provision of the capital gains tax be eliminated. While Obama claims that he wants to eliminate a loophole for the rich, such a change could