Friday, May 12, 2017
Lucky holders of Buffett's funds
It is one of the advantages of owning Buffett's funds - no dividends and hence no taxes. Most owners do not want to sell due to the hefty capital gain taxes. They want to hold them until they die so they do not have to pay Federal capital tax due to the cost step up. However, they have to deal with estate taxes. A good tax lawyer probably would advice them to transfer some shares to their children.