The cost basis in real estate can significantly impact your tax liability. If you're buying a property, understanding the cost basis in advance can help you prepare for the possible...
Posted by Tiffany Gaskin on 10/26/2022
We recommend that you keep some documents and files longer than others. It really depends on the document and your business.With the exception of some guidelines from government agencies,...
Posted by Dennis Jao on 12/10/2021
Tax deferral involves taking a deduction and moving it to a previous year or deferring part of your income to a later year. You are not reducing your overall taxes but getting a benefit...
Posted by Abundant Wealth Planning LLC on 07/24/2021
What is Rental Income?Uncle Sam defines rental income as any payment you receive for using or occupying the property. Examples are rent payments, security deposits, advance rent, fees...
Posted by Tiffany Gaskin on 06/04/2021
Investing in rental real estate can provide investors with a constant income stream that covers the mortgage and, at the same time, provides additional income each month; when these...
Posted by Pat Raskob on 02/17/2021
Unknown to many people, the proceeds from selling a house might be taxable. However, this article sheds light on the mode of operation and simple ways to avoid ending up with a huge...
Posted by Rosovich & Associates, Inc. on 02/16/2021
When you earn from selling an asset, such as a business, land, or stock, you may be subject to capital gains tax. Capital gains can be taxed at the same rate as ordinary income, up...
Posted by James Financial Services Inc on 08/11/2022
Except when you are selling for financial distress, selling the home is expected to yield a lot of profit for you. But there's a pitfall: capital gains tax. So many homeowners...
Posted by CORE PERFORMANCE on 05/09/2022
You may be subject to capital gains tax when you gain from the sale of an asset, such as a business, land, or shares. Capital gains are sometimes taxed at the same rate as ordinary...
Posted by CORE PERFORMANCE on 02/28/2022
