Are you thinking of selling your primary residence? Before you take that leap, it’s essential to understand the ins and outs of potential capital gains tax to avoid any unwelcome surprises come tax season. Let’s delve into the basics and exceptions to ensure you’re well-informed about what’s ahead. You don’t want to incur a larger-than-necessary tax bill.
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This year might be almost over, but there are still plenty of steps you can take to minimize your tax bill in 2021. Focusing on your finances may not be as fun as concentrating on the holidays (although, it might be an even draw this year), but you’ll be glad you did if you realize significant savings.
December 26, 2018
Do you have investments outside of tax-advantaged retirement plans? If so, you might still have time to shrink your 2018 tax bill by selling some investments you just need to carefully select which investments you sell.
November 20, 2018
As we approach the end of 2018, it’s a good idea to review the mutual fund holdings in your taxable accounts and take steps to avoid potential tax traps. Here are some tips.
October 2, 2018
For investors, fall is a good time to review year-to-date gains and losses. Not only can it help you assess your financial health, but it also can help you determine whether to buy or sell investments before year end to save taxes. This year, you also need to keep in mind the impact of the Tax Cuts and Jobs Act (TCJA). While the TCJA didn’t change long-term capital gains rates, it did change the tax brackets for long-term capital gains and qualified dividends.