Cincinnati Tax Guy

Steve Hamilton is a Tampa native and a graduate of the University of South Florida and the University of Missouri. He now lives in northern Kentucky. A career CPA, Steve has extensive experience involving all aspects of tax practice, including sophisticated income tax planning and handling of tax controversy matters for closely-held businesses and high-income individuals.

Showing posts with label value. Show all posts
Showing posts with label value. Show all posts
Monday, July 21, 2025

A Skeleton Return And Portability

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  The amount for 2025 is $13.99 million. This is the lifetime exclusion amount for combined gift and estate taxes. You can give away or di...
Monday, May 12, 2025

Recurring Proposal For Estate Beneficiary’s Basis In An Asset

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There is an ongoing proposal in estate taxation to require the use of carryover basis by an inheriting beneficiary. I am not a fan. Ther...
Sunday, March 9, 2025

Shoplifting And Sales Tax

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  I was recently surprised by a question. It has to do with use tax, and it is not the most riveting issue – even for a tax CPA. But it ...
Sunday, February 18, 2024

The Consistent Basis Rule

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  I was talking to two brothers last week who are in a partnership with their two sisters. The partnership in turn owns undeveloped land, wh...
Sunday, October 22, 2023

Sonny Corleone’s IRA

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I remember him as Sonny Corleone in The Godfather. He is James Caan, and he passed away in July 2022. I am reading a Tax Court case involv...
Sunday, June 4, 2023

The Gallenstein Rule

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  It is a tax rule that will eventually go extinct. It came to my attention recently that it can – however – still apply. Let’s set it u...
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