The Money Cruncher, CPA
themoneycruncher.bsky.social
A licensed CPA talking about personal finance. I write http://TheCrunch.co for 10,700 readers Not a financial/tax advice
👤 Joined on 04 November 2024
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- 04 Kas 2024, 00:47
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People often ask “How do you invest your 401k?” I do 100% into Vanguard Institutional 500 Index Trust ($VFFSX) It has a 0.01% expense ratio One of the best S&P 500 funds out there.
Show PostHaving a solid tax strategy is crucial. You need to think long term and minimize your tax exposure. If you found this thread helpful, please: 1. follow me @themoneycruncher.bsky.social 2. repost the first post
Show PostSince the Nvidia stock is now owned in his name, he will receive a step-up basis adjustment to the fair market value (FMV). His heirs will then sell the assets and pay $0 in income tax on the Nvidia shares.
Show PostHe could swap cash (borrowed against the trust's assets) into the trust, along with a promissory note. After the swap, he would personally own Nvidia stock, offset by liabilities. As a result, he would receive an indebtedness deduction and $0 in estate tax.
Show PostBut what about the step-up basis? Good question. Jensen would most likely use the "power of substitution" which allows him to exchange assets in the trust for assets of equal value.
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