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3 Reasons You Likely Won’t Pay Income Taxes When You Sell Your Home

Posted in Tax News on July 10, 2012

1) You Don’t Have a Capital Gain   Due to the housing market, many homeowners no longer have a gain in their home. A gain is the sales price minus the cost basis. The cost basis is generally the purchase…

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3 Reasons to Recognize Capital Gains in 2012

Posted in Tax News on July 3, 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…

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