What is "Basis" in Tax Law?

Описание: What Is Basis in Tax Law? | Torchlight Tax Explains

Understanding basis is essential when it comes to calculating your taxable gain or loss in the U.S. tax system. In this video, Dave Horwedel, CEO of Torchlight Tax, explains the different types of basis—cost basis, adjusted basis, and depreciable basis—and how they affect your taxes when you sell property, inherit assets, or receive gifts.

🔍 Learn:

How basis is calculated depending on how you acquired the asset

Why your basis amount directly impacts how much tax you pay

How to avoid IRS assumptions that could cost you thousands

📞 Need help with your taxes?
Contact Torchlight Tax for a free consultation:
📱 877-758-7797
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🌐 Visit: https://torchlighttax.com

💡 Don’t let uncertainty about basis cost you big at tax time. If you’ve inherited property, received gifts, or own business assets—let the experts at Torchlight Tax help you calculate your correct basis and minimize your tax liability.

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