VIDEO: Understanding Basis

by Leah Woodly

Are you confused about the term “basis” and how it impacts your taxes and investments? Don’t worry! In this video, we’ll break down the concept of basis, explain why it’s so important for your financial future, and show you how to track it properly. Whether you’re dealing with stocks, real estate, or inherited assets, knowing your basis can help you avoid paying more in taxes than you need to.

What You'll Learn:

What is basis and how it’s calculated
How to adjust your basis for improvements or depreciation
Why basis matters for your taxes
Common mistakes people make with basis
Tips for tracking your basis like a pro

Tip:

Keep your financial documents organized and consult a tax professional to ensure your basis is calculated accurately!

This material is intended for educational purposes only. You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. Nothing in this material constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. Dorval & Chorne Financial Advisors is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.