Your Home: 4 Tax-Smart Moves

For many people, a home is one of their most valuable assets. As such, it needs to be factored into your estate plan. Traditionally, homeowners have focused on limiting estate tax. Now, they need to shift their focus to saving on income tax. The reason: The estate tax exemption has climbed to $5.43 million per person (or $10.86 million for married couples), thereby making estate taxes less of an issue. Meanwhile, capital gains tax rates are at their highest in many years, and many people nearing or in retirement are living in homes that have increased enormously in value.

Source: Your Home: 4 Tax-Smart Moves