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12 Dec |
The taxes paid on capital gains can vary depending on the length of time the investment is held. Short-Term capital gains: If assets are held for less than a year, they are considered short-term. Short term gains are taxed at the taxpayer’s ordinary tax rate. Long-Term capital gains: If assets are held for more than […] |
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15 Oct |
Many small businesses may qualify for the office in home deduction, which is available to both homeowners and renters. In order to take this deduction, the taxpayer must have a designated portion of their house that is used exclusively for their business. This area must be the principal place of business or where they regularly […] |
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15 Sep |
A 529 plan is a tax-advantage college savings plan. It allows a taxpayer to put money aside for a beneficiary that must be used for qualified college expenses. For federal tax purposes, the 529 plan is treated similar to a Roth IRA; there are no tax deductions up front. You pay taxes on the money […] |
