investment income

How to File Taxes for Stock Gains

money chart

A well-rounded portfolio can be a great way to invest and make some extra cash. Like most financial activities, however, trading stocks will affect your income tax. The IRS taxes investment income, but there are many factors that determine exactly how they do so. What are Capital Gains? Simply put, a capital gain is any … Read more

Is Personal Loan Interest Tax Deductible? Is The Loan Taxable Income?

personal loan tax

Depending on what you’re borrowing money for, a personal loan can amount to a fairly large sum of money. It’s important to understand the tax implications of receiving this money and of paying it back. In some cases personal loans don’t have any tax implications at all, but in others they can alter your tax … Read more