enow.com Web Search

Search results

  1. Results from the WOW.Com Content Network
  2. Capital gains tax in the United States - Wikipedia

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

    Toward the end of a tax year, some investors sell assets that are worth less than the investor paid for them to obtain this tax benefit. A wash sale, in which the investor sells an asset and buys it (or a similar asset) right back, cannot be treated as a loss at all, although there are other potential tax benefits as consolation. [48]

  3. Taxation in the United States - Wikipedia

    en.wikipedia.org/wiki/Taxation_in_the_United_States

    Tax rates vary widely by jurisdiction from less than 1% to over 10%. Sales tax is collected by the seller at the time of sale. Use tax is self assessed by a buyer who has not paid sales tax on a taxable purchase. Unlike value added tax, sales tax is imposed only once, at the retail level, on any particular goods. Nearly all jurisdictions ...

  4. Cost basis - Wikipedia

    en.wikipedia.org/wiki/Cost_basis

    Basis (or cost basis), as used in United States tax law, is the original cost of property, adjusted for factors such as depreciation.When a property is sold, the taxpayer pays/(saves) taxes on a capital gain/(loss) that equals the amount realized on the sale minus the sold property's basis.

  5. Wash sale - Wikipedia

    en.wikipedia.org/wiki/Wash_sale

    After a sale is identified as a wash sale and if the replacement stock is bought within 30 days before or after the sale then the wash sale loss is added to the basis of the replacement stock. The basis adjustment preserves the benefit of the disallowed loss; the holder receives that benefit on a future sale of the replacement stock.

  6. Capital gain - Wikipedia

    en.wikipedia.org/wiki/Capital_gain

    Capital gain is an economic concept defined as the profit earned on the sale of an asset which has increased in value over the holding period. An asset may include tangible property, a car, a business, or intangible property such as shares. A capital gain is only possible when the selling price of the asset is greater than the original purchase ...

  7. 1231 property - Wikipedia

    en.wikipedia.org/wiki/1231_property

    This means that if the asset can be sold for a value greater than its basis, it can be taxed at a capital gains rate, which is lower than an ordinary income rate. However, if the 1231 property results in a loss then the taxpayer can treat it as an ordinary loss and such a loss may reduce the taxpayer's taxable income .

  8. Tax Tips: Do I have to report my income from my garage sale ...

    www.aol.com/news/2008-04-04-tax-tips-do-i-have...

    The same goes for property that you used in a business and claimed on your business tax returns. The sale of that type of property is likely reportable on your income taxes.

  9. Available for sale - Wikipedia

    en.wikipedia.org/wiki/Available_for_sale

    Available for sale (AFS) is an accounting term used to classify financial assets. AFS is one of the three general classifications, along with held for trading and held to maturity, under U.S. Generally Accepted Accounting Principles (US GAAP), specifically FAS 115. The IFRS also includes a fourth classification: loans and receivables.