Property Tax Deferral is high-cost option

This column first appeared in the San Antonio Express News on June 22, 2018. Dear Mr. Premack: I am trying to fully understand deferral of local property taxes. I understand pretty much all of it except the interest rate. I am over 65 and own my principal residence free and clear. The information I have…

Affidavit of Heirship changes records

This answer first appeared in the San Antonio Express News on March 30, 2018. Dear Mr. Premack: I read with interest the article [March 23, 2018] about the lady who thought changing records at the Appraisal office would make her sole owner or her property. I did the same and I was thinking the same…

Should Rancher continue gifting of land?

This column first appeared in the San Antonio Express News on January 29, 2018. Dear Mr. Premack: My 95-year-old mother owns a large piece of ranch land. The value per acre is fairly high, and her tax adviser years ago told her to start gifting “undivided interests” each year worth $14,000 to each of the…

Recommended Reading on Tax Reform

The National Council on Aging has just posted a blog article regarding tax reform efforts in Washington. The article is signficant and I recommend you read it here. The article makes the case for the proposition that a) Congress knows that its tax reform bill will greatly expand the deficit (by giving large tax breaks…