Transferring a home to adult children is not quite as easy as giving them the keys and letting them move in. No matter how you do it, the taxman wants his cut, whether through estate and gift taxes or those for property and income, both federal and state.
If you have a Medicare Advantage plan and require a brief stay at a nursing home or rehabilitation facility, you could be in for an unpleasant surprise, according to a Kaiser Health News report.
There’s almost always a reckoning when the government proffers a tax break. So it is with individual retirement accounts (IRA)s, 401(k)s, and similar accounts that investors fund with pre-tax earnings.