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It's important for taxpayers to understand how selling their home may affect their tax return. When filing their taxes, they may qualify to exclude all or part of any gain from the sale from their income. To claim the exclusion, the taxpayer must meet ownership and use tests.
Taxes on stocks are incurred in the tax year the stock is sold or the dividend payment is made. Filers report and pay those taxes when they file their annual income tax return the...
Taxes are mandatory contributions levied on individuals or corporations by a government entity—whether local, regional, or national. Tax revenues finance government activities, including public...
Taxes on investments depend on the investment type. See current tax rates for capital gains, dividends, mutual funds, 401(k)s and real estate investments.
Like most tax questions, the answer depends on your specific situation. There are typically two times when your taxes are affected by your investments. The first is when you receive income from the investments. The second is when you sell the investments for a gain or loss.
Understand why taxes are lower on qualified dividends, and how asset placement and tax-loss harvesting can reduce your tax burden.
Taxes are sometimes overlooked or considered after the fact, but capital gains (depending on the type of security and holding period) can have a big impact on investment results. Different types of...
During the normal course of business, a taxpayer may find itself the recipient or payer of a settlement or judgment as a result of litigation or arbitration. The federal tax implications of a settlement or judgment, which can be significant, often are overlooked.
Capital gains taxes are taxes levied on the profit from selling an asset for an amount greater than its purchase price. These taxes are categorized into...
Everyone has to pay taxes. But understanding how taxation works will empower you to make smarter personal finance decisions.