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1) Harvest Capital Losses Capital gains property includes stocks, bonds and mutual funds. Currently, the stated rate on long term capital gains is 15%. If you have a net loss after netting all of your gains and losses, the…
Donors should give appreciated property to their favorite charity. Appreciated property is property whose Fair Market Value exceeds the cost basis. Cost basis is generally what was paid for an item.
The primary reason to make the Subchapter S filing status election is to have a single federal income tax when the business is eventually sold. If the corporation is not an S corporation and the company assets are sold, there…
Next to saving for retirement, your biggest financial challenge is probably saving for your child’s college education. College costs have skyrocketed! People wonder how they will afford the cost of a college education in the future. A 529 College Savings…
Frequently, parents will be encouraged to give their home to their children so the government won’t take it to pay any nursing home bills. This is usually very bad advice. Why is this not an appropriate strategy?
