Posts Tagged ‘long-term capital gain’
IRS Tax Audit: Everything You Need to Know and Signs You Might Be Audited
The Inflation Reduction Act of 2022 will increase the IRS’ budget by $80 million over 10 years. What does that mean for you? In short, it gives the IRS the funding for personnel to conduct more tax audits. That means if you’re already at risk of an audit, the chance of you getting one in the…
Read MoreThe Ultimate Guide to Owning a Short-Term Rental
If you’re considering investing in real estate, you’re not alone. Most millionaires still agree that real estate is the best investment you can make today, and for good reason. However, out of all your rental options, short-term rentals have made quite a name for themselves in recent years. That’s because, with the right tools, you…
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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