Posts Tagged ‘Mutual Funds’


The Difference Between an Inherited Asset and a Gift Received

caughted

Whether you receive an asset from inheritance or from a gift can have significant tax impact when this asset is sold.

Inherited Asset

For an inherited asset you generally take this asset over at the Fair Market Value at the Date of Death. This value would be listed on the probate inventory.  Additionally for a Connecticut decedent it would be listed on … Continue reading »


How to Calculate Your Cost Basis and Save Money…Guaranteed

money

When you sell a capital asset you need to know when you purchased it and what the cost basis is.  These will be used to determine what your capital gain (or loss) is.  Capital assets are items such as stocks, bonds and mutual funds.

Holding Period

A short-term capital gain is for a capital asset held a year or … Continue reading »


What’s the Difference in Capital Gains Taxes?

Capital Assets

Capital assets are generally those held for investment.  Stocks, bonds and mutual funds are some examples. If there is a gain on the sale of these assets, a capital gains tax is due.


7 Easy Ways to Decrease Your Income Tax and Keep More Money

 1) Maximize Your Contributions to Your 401(k) Plan

Many employers will offer a 401(k) plan. Employees need to take advantage of this plan. This will likely be one of the cornerstones of your retirement plan. If your employer offers a match, you really need to participate in this plan at least to get the match amount.


3 Reasons to Recognize Capital Gains in 2012

1) The Long-Term Capital Gains Rate is Going Up

Long-term capital gains are for capital assets held longer than a year. Capital assets include stocks, bonds and mutual funds. Collectibles and certain Real Estate are subject to special rules.  The stated rate on long-term capital gains is currently 15%.  If Congress fails to take any action, this will increase to 20%.  The so-called Bush tax cuts reduced the rate on long-term capital gains to 15%.  These tax … Continue reading »


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