🙅🏻 Never let your parents give you their home
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- Опубліковано 20 тра 2024
- 🏡 Your parents may want to give you their home once they retire to set you up for your future, but it’s actually one of the worst things they can do!
If your parents just gives you their home, then you would be liable for the capital gains taxes on all of the appreciation during your parent’s lifetime if you decided to sell it.
So instead of getting the property while they’re still alive, tell your parents to put the property in a living trust and to name you as the beneficiary.
📈 That way, the property will get a “step-up in basis” when you parents passes away, and you won’t have to pay capital gains taxes on the appreciation!
It’s one of the best ways to keep wealth in the family instead of giving it to the IRS.
✅ If you want to learn more about real estate investing then register for my free rental property webinar through the link in my bio!
Bro has a timer on his fathers death 💀
he said when his dad was 60 that his dad was gonna die 20 years later so he needs to wait 10 years for the house
Bros waiting for his dad to pass away
crazy
in another vid he said his dad will die in 20 years
Wasent step up basis no taxes at all? Sean u lied to us
“That boy is good”
Thanks for the money tips❤
Sure!
Dad: Alright i agree
Son:*pulls out a gun
Thank you for this information it really❤ helps
Sure!
I thought step up basis meant No capital gains taxes at all if sold?!
Sean, can you help me? I’m 12 years old and want to start investing but don’t know where to begin. Can you tell me some English places that I can check?
Increase your knowledge first. Watch videos or read books. At your age, best way is to invest in yourself ☺️
Yes, Sadiq's home, Londonistan!
Thank you so much ❤
You're welcome 😊
The stamp act was repealed so forced taxation is highly unlawful
Thanks for the tip!
Sure!
i swr u go through probate if ur a beneficiary
Does a trust protect the home from being taken by a nursing home ?
great question
I believe so but check with an attorney
Bottom line is: fuck taxes!
US is the new Britain. Difference is we're doing it to our own people now
Core problem is the existance of these cattle taxes at all.
Revolution was started for 2% tax on the colonies
Just don't sell the house?
Super helpful video. Thank you.
Glad it was helpful!
It's my understanding that he could give him the house or anything he chooses, now. No taxes due, as long as the gift doesn't exceed the balance of his non taxable estate, which in 2024 is more than $13M, less gifts already given. Again, this is how I understand it; anyone reading this should check with a tax expert.
Same thing with stocks
Wait so assuming your Dad passes today at house value of $1M you’re essentially locking in the tax due at $800k which is the current market value.
This is such an American take…in Europe we think that paying taxes is actually a good thing because it benefits our “solidarity community”, rather than only benefiting your core family. Interesting how mentalities are different.
Does this apply to uk at all
My great grandma bought a 2 story house for 5k egp when our currency was actually worth something but now it's worth shit like 50 egp per 1 dollar
(Egp=Egyptian pound)
That was 60 years ago btw
Imagine sean and casper made a youtube account together💀
Now imagine the tax collectors also have to pay taxes💀
Why am I getting real estate advice in my recommendations at 16?
Guess it's better to learn now.
Image the dad just dropped dead at the end of
When i tell my dad this umm nvm I'll just give it to your mom
Sean and casper are twin..
Nah they are brothers
Dad dies under *mysterious* *circumstances*
*he left the game*
I like the videos you post because theyre very insightful...but how come you only reply to rhetoric comments? Someone literally just said "hi" and that got a reply over others with directed questions?
Plot twist: he dies before his dad
Bro didn't care about his dad 😂💀
What is bro passed away before his father 💀
Dude pay the taxes. It's. A free house and there is no way you'd turn it down
You know how much we pay in taxes is mind blowing! You pay taxes when you buy the house, own the house and sell it. Cars and homes are the only items that get taxes WHILE you own them. Everything else gets taxed when you buy (food, clothes, etc) and sometimes when you sell. I think it’s ridiculous that we pay ownership taxes too!
That doesn't work here in Indonesia
how is it a gain if the money isn’t worth that much anymore
You copied casper
Well its both the same idea and also on the same topic and this guys does more videos on this too so your kinda saying someone copied on an assignment even though both are the right answers
The real estate laws change when people find out and start using them.
Good content
Thanks!
We sholdent even have to pay taxes on selling homes
Why take so many steps when you can just evade taxes
The thing is he is sean
1
Wow both youtubers with the same vid kinda Carper and Shawn??? WHOS THE COPYCAT!!!!!
So Basically, Your Waiting For Your Dad To *Die*
Bro copied Casper
IM EDGING TO SEAN OMG 🤑
Wow bro really fell off
I find the concept interesting but the way of explaining is kinda complicated
not every things about money?its confusing
Put in trust 100000 dollars owned giving it 800000 is he a liar
Me trying to know whats hes saying☠️
Wait...is it just me or does bro KINDA look like BoywithUke
Gimme malaysian way
BOY YOU BETTER GET OFF CASPER'S UA-cam
Fuk this I don’t plan on dying. My parents and I and my kids will be immortal
Trust me you don’t want to be immortal. World is full of suffering for all people. Better be short lived and happier
@@wubrian5867 you sound chronic suicidal. I’m aware of the world’s suffering but at the same time I enjoy my family
People who saw this already 👇
How many videos are you gonna make on the same topic already like 🤤
What if u live in Dubai? 😀
okay but why is there a tax on a house that's gifted to you
Why do you pay taxes on it every year…? Because the government wants to extract as much money as they can! Study our country’s history and you will see how greedy our government is. We fought England over a 2% tax….now look at our tax rate. 2% would be a steal!
Bro copied casper =/
Thats why you don't get a satisfying amout of likes 😂😂😂
U dont even post anything lmao
Hey
Hi
W sean im only 8 and im learning investment thats krazzyyyy
Hey can i get pinned?
Btw thats smart
Your copying casper
Copy of casper
Bro
W
Fake
How do you make your face look old
55 comment
Why dose nobody have likes on there comment
AEOWOP
69th comment :0
Bro is killed his father before he dead💀💀