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  2. Depreciation recapture - Wikipedia

    en.wikipedia.org/wiki/Depreciation_recapture

    Depreciation recapture in the USA is governed by sections 1245 and 1250 of the Internal Revenue Code (IRC). Any gain over the recomputed basis will be taxed as a capital gain in accordance with section 1231 of the IRC. Other countries have similar procedures. In the UK, HMRC uses "negative depreciation".

  3. 1231 property - Wikipedia

    en.wikipedia.org/wiki/1231_property

    This provision is said to give a taxpayer the "best of both worlds" as it allows the favorable capital gains tax rate on section 1231 property while avoiding the negative implications of capital loss treatment. Ordinary losses are 100% deductible, while capital losses are subject to an annual deduction limitation of $3,000 against ordinary income.

  4. Internal Revenue Code section 1031 - Wikipedia

    en.wikipedia.org/wiki/Internal_Revenue_Code...

    Although it is not used in the Internal Revenue Code, the term "boot" is commonly used in discussing the tax implications of a 1031 exchange. Boot is an old English term meaning "something given in addition to." "Boot received" is the money or fair market value of "other property" received by the taxpayer in an exchange.

  5. 8 of the savviest loopholes wealthy investors use to reduce ...

    www.aol.com/8-savviest-loopholes-wealthy...

    This is why tax loopholes and deferral strategies exist, and why the wealthy seek out top advisors to help them navigate the complicated and intricate tax code. The right advice can buy time ...

  6. Taxpayer Relief Act of 1997 - Wikipedia

    en.wikipedia.org/wiki/Taxpayer_Relief_Act_of_1997

    The $600,000 estate tax exemption was to increase gradually to $1 million by the year 2006. As inherited assets are automatically revalued to their current or "stepped-up" basis, any capital gains are permanently exempted from taxation. Family farms and small businesses could qualify for an exemption of $1.3 million, effective 1998. Starting in ...

  7. Capital gains tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Capital_gains_tax_in_the...

    From 1998 through 2017, tax law keyed the tax rate for long-term capital gains to the taxpayer's tax bracket for ordinary income, and set forth a lower rate for the capital gains. (Short-term capital gains have been taxed at the same rate as ordinary income for this entire period.) [ 16 ] This approach was dropped by the Tax Cuts and Jobs Act ...

  8. How to Legally Avoid Capital Gains Tax on Mutual Funds

    www.aol.com/legally-avoid-capital-gains-tax...

    1. Hold Funds in a Retirement Account. The easiest way to manage any form of capital gains tax is to hold your investments in a qualified retirement account. As a general rule, the IRS does not ...

  9. Retained earnings - Wikipedia

    en.wikipedia.org/wiki/Retained_earnings

    The amount added to retained earnings is generally the after tax net income. In most cases in most jurisdictions no tax is payable on the accumulated earnings retained by a company. However, this creates a potential for tax avoidance, because the corporate tax rate is usually lower than the higher marginal rates for some individual taxpayers ...