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Why The New Medicare Tax May Cost You More Money
Current Medicare Tax Currently taxpayers pay 1.45% Medicare Tax on their earned income. This is from a W-2 for employees and net-income from self-employed individuals. The employee pays this amount and...
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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...
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3 Reasons You Likely Won’t Pay Income Taxes When You Sell Your Home
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...
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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....
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