Home sellers may hear the term "adjusted basis" during the sales process. In the world of real estate, this term is related to the sale of real estate: when you sell your...
Posted by Taxes Made EZ Inc on 02/17/2023
There are two ways a business can make or lose money. You can profit from your sales activities or lose money by spending more than what you earn from sales. You can also earn or lose...
Posted by Dennis Jao on 09/18/2020
The tax basis for your estate is what you paid for the property and all of its improvements and is generally different from the estate's purchase price. Often, the tax basis of...
Posted by Carmen Garcia on 06/18/2021
Article Highlights:General statute is 3 years Some states are longer Fraud, failure to file and other issues can extend the statute Records to dump Record to Keep...
Posted by Ace Plus Tax Resolution on 08/04/2020
It’s important to learn how to calculate cost basis if you own a real estate business. Calculating your annual depreciation deduction requires the basis. It’s also needed...
Posted by LLOYD J CAZES CPA on 11/05/2019
Every year, millions of homeowners pay more taxes on their rent than they have to pay. Why? It is because they do not take advantage of all the tax deductions available for homeowners...
Posted by rinehimerbaker on 04/09/2019
When you sell your home, you are essentially collecting capital gains if you make any profit from the sale of your home. While this could be a potentially stressful time, it also has...
Posted by Allan J Rolnick, CPA, CTC on 03/27/2016
Buying or selling a home can be one of the most stressful and exciting times of your life. However, selling your home also has tax implications. In order to meet your requirements...
Posted by Denisha Marino on 02/05/2016
The tax professionals at Johnson, Johnson & Associates, Inc in Yeadon, PA have previously shown you that if you sell your home, you can exclude up to $250,000 on your capital gains...
Posted by Johnson, Johnson & Associates, Inc. on 01/22/2016
