If you are an investor, you know that you may need to pay capital gains taxes when you sell an investment at a profit. At the same time, however, and especially in an unpredictable market, stock losses can loom large for your investment portfolio. When you sell an investment for less than you paid, you … Read more
You don’t have to be a rich mogul to start real estate investing. Though you may wish to expand your real estate empire one day, you only need one rental property and one tenant to start earning rental income. Unfortunately, one property is also all you need for the IRS to take notice. Make sure … Read more
In this article we explain the difference between marginal tax rate and effective tax rate. Learn what each is used for and gain a clear understanding about how much of your income is truly expected to be paid by the IRS. What is the Effective Tax Rate? Calculated by dividing your total tax liability by … Read more
In the beginning, cryptocurrency was pretty basic. You could use it to make purchases and accept it as payment. If you wanted to make money, you needed to pay close attention to the crypto market, buying and selling at the right times based on the currency’s fluctuating value. In that regard, crypto worked in a … Read more
Hopefully, your investment portfolio is performing well and looking at it brings you joy. Unfortunately, certain investments can prove excruciatingly frustrating, even when they’re performing well. Investments in a passive foreign investment company are subject to complicated IRS rules, and this complication is very much intentional. So is the exorbitant tax rate on these investments, … Read more
If you get into trading cryptocurrencies, you’ll learn quite quickly that there is a lot of information to keep track of. It’s not enough to track what you’ve bought and where in cyberspace it lives. You’ll also need to know your cost basis and calculate whether you’ve gained or lost money during every cryptocurrency transaction. … Read more
If it seems like the IRS has enough forms and tax return schedules to wallpaper your house, it’s because they probably do. Wading through them can feel overwhelming, but they are all important and serve unique purposes. Forgetting to file a certain form or schedule could delay your refund, so it’s important that you know … Read more
