If you sell stocks, mutual funds, or other assets that you have held for at least a year, any profit from the sale will be taxed at the rate of 0%, 15%, or 20%. These long-term capital...
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...
If you own or plan to invest in ETFs or mutual funds, you need to know what capital gains distributions are, how they can affect your investments, and how they can be taxed. This is...
The only things certain in life are death and taxes. While taxes are certain in life, many investors do not consider them when making their retirement portfolios plan. If you do not...
The sale of any property and foreclosure is treated the same way by Uncle Sam. Since the property was transferred to another person, there could be taxes on such a property. This is...
A cryptocurrency wave has led to the rise of Bitcoin to over $30,000 per coin, with everyone scrambling for their share of the digital currency. However, if you are interested in cryptocurrencies,...
The TCJA eliminated several itemized deductions from 2018 through to 2025. However, the investment interest deduction was not affected. This means that single taxpayers can claim their...
Your basis in a business asset is essentially the cost of that asset. The term applies to all types of assets held by your business, including real estate, land, equipment, and investments...
Uncle Sam recently announced the 2021 tax rate in a bid to take care of inflation. The top tax rate will be at 37% for 2021 tax returns filed by taxpayers in the year 2022. However,...