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12 March 2024 | 7 replies
You'll need to use how it is reported now to determine your taxability now.
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11 March 2024 | 25 replies
stocks sold that were held for more then 12 months is a common one Looks like according to this link, stocks capital gain can't offset passive losses.Here is how the IRS defines Passive activities (IRS Publication 925):This means that you cannot use passive losses to offset capital gains, portfolio yields, ordinary income or any other form of taxable gains.
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11 March 2024 | 7 replies
Maxing out retirement accounts, ira, adding to taxable accounts (index funds) for pre-age 59.5 access.
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12 March 2024 | 29 replies
An opportunity zone investment can defer the taxable gain through 2026. plus, any tax on the appreciation in the fund will be avoided if the investment is held for over 10 years.
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10 March 2024 | 8 replies
Let's consider the Seattle Metropolitan area; an SFH (Single Family Home) would cost around $1M, and the taxable income is $500k.My questions are as follows:1.
10 March 2024 | 7 replies
But still should not be a problem since contributions into and distributions out of an LLC are generally not a taxable event.
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9 March 2024 | 14 replies
Depending on what the gain will be, it may have been a good thing to do.Selling a property is a meaningful taxable event.
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8 March 2024 | 4 replies
I manage a short-term rental in San Diego and am considering integrating my in-laws’ STR under this operational model to reduce taxable income.Establishing an LLC seemed like a way to merge our business accounts, potentially decreasing taxable income from our STR by accounting for expenses from an added unit.
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8 March 2024 | 2 replies
Are you talking about what would be deemed as income to determine if benefits are taxable?
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12 March 2024 | 168 replies
You can buy them from your retirement accounts (IRA, 401k, etc.) or in a taxable account.