Posts Tagged ‘capital gains tax’
Avoid These Costly Tax Mistakes When Selling a Medical Practice
Avoid These Costly Tax Mistakes When Selling a Medical Practice Selling a medical practice is a major financial transaction, and without proper tax planning, you could end up paying more in taxes than necessary. Fortunately, with the right strategies, you can significantly reduce your tax liability and maximize the proceeds from your sale. This guide…
Read MoreTax-Free Home Sale: When and Why, You Need to Report to the IRS
You probably know that when you sell your home, you may exclude up to $250,000 of your gain from tax if you’re unmarried (or married, filing separately) or $500,000 if you are married and file jointly. To claim the whole exclusion, you must have owned and lived in your home as your principal…
Read MoreCryptocurrency Has Unique Rules When It Comes to Income Taxes
So far in the gaining popularity of cryptocurrencies, we’ve only heard from the IRS in 2014 and 2019 on how crypto impacts your taxes. Throughout the history of crypto, the IRS has marked virtual currency as property. Because of this unique designation, cryptocurrencies are subject to capital gains taxes. For the Beginners – What is…
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