What Is a Step-Up in Basis for Tax Purposes?

The term “step-up in basis” refers to the increase in the tax basis of an asset that occurs when the asset is inherited by a new owner. The new owner’s tax basis in the asset is equal to the fair market value of the asset at the time of the inheritance. This is important because … Read more

What is a cartel?

When we talk about the concept of a cartel, we refer to an agreement or pact between different companies in the same sector, trying to eliminate the competition existing in it. Agreements are made between all the cartel companies on how to produce, how much to produce, details of distribution and others … In this … Read more