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For tax purposes, the basis of an asset generally equals its purchase price, and an asset’s basis determines the gain or loss when sold. If, for example, you purchase stock for $50 that you later sell for $75, you have a $25 taxable gain (i.e., $75 sale price less your…
Author: Comiter, Singer, Baseman & Braun
S corporation stock, whether owned individually or by a trust, merits special attention upon death. Congress presumably did not want a shareholder’s death to terminate an S election, so an estate of a deceased S corporation shareholder is a permitted shareholder during the period of administration. If the executor transfers…
Comiter, Singer, Baseman & Braun, LLP, is thrilled to announce that Senior Counsel, Mark R. Brown, has been made partner. As partner, Mr. Brown’s practice will continue to focus on wills and trusts, domicile planning, probate administration, and sophisticated estate tax and income planning. Mr. Brown is board certified in…
For families with a special needs child, daily life includes challenges that most people will never experience. Beyond the day-to-day, however, you also need to plan for their future. As hard as it may be, there will come a day when they turn 18 and are considered an adult under…
Comiter, Singer, Baseman & Braun, LLP announces its newest addition to their team, Giannina E. Smith, Esq. The focus of Giannina’s practice is tax and estate planning matters. Giannina received her Bachelor of Science in Accounting degree, cum laude, from Florida State University in 2016. She earned her Juris Doctor, cum laude,…
