Never Put Your House in Your Kid’s Name Until You Hear This

Most people think giving property to their kids early is a smart move… until they realize it could trigger a massive tax bill.In this episode of the Know Your Numbers REI Podcast, Chris McCormack breaks down one of the biggest estate planning mistakes families make-transferring real estate before death and losing the powerful “step-up in basis” tax advantage. Learn how a simple decision could cost your heirs $100,000+ in capital gains taxes, what “carryover basis” really means, and how strategic estate planning can protect your family’s wealth for generations. Whether you own rental properties, investment real estate, or a paid-off family home, this episode is packed with practical tax-saving strategies every family should know.If you want to preserve more wealth, avoid unnecessary IRS problems, and make smarter inheritance decisions, this episode is a must-listen.Follow for more tax-saving strategies, real estate insights, and proactive wealth-building advice from Better Books Accounting.••••••••••••••••••••••••••••••••••••••••••••➤➤➤ To become a client, schedule a call with our team➤➤ https://www.betterbooksaccounting.co/contact••••••••••••••••••••••••••••••••••••••••••••Connect with Chris McCormack on Social MediaFacebook: https://www.facebook.com/chrismccormackcpaLinkedIn: https://www.linkedin.com/in/chrismccormackcpaInstagram: https://www.instagram.com/chrismccormackcpaJoin our Facebook Group: https://www.facebook.com/groups/6384369318328034→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@chrismccormackcpaThe Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.