Hello,Say I sold a home and I paid capital gain taxes because I lived in there home more than 1 year. Where my capital gain was $50,000 my capitals gains tax bracket was 10% which leaves with $45000 profit. Do I have ...

I am looking for any advice or info on how to correctly calculate long term capital gains taxes for a property owned for more than 2 years.  I know this will vary dependent on tax brackets. I was looking for calculati...

Do long term or short term gain affect your tax bracket. If you want to know what your going to pay in short term gains you need to know your tax bracket, but since short term is ordinary income, doesn't that change ...

I purchased and put in service a STR condo this year (2023). Purchase price was ~$200k. It is self-managed. It is a condo, so no land value. I am considering a cost-seg study and looking for recommendations on profess...

I am working with an older investor who is trying to off load a Commercial building and wants to know what the Capital Gains taxes are before he commits to sell. I've been on google to search but I am coming up with d...

I have been investing in VTSAX through a joint brokerage account. I'm debating if I should start maxing out a ROTH IRA or regular IRA in addition. From what I understand you can withdraw from a ROTH at any time, so it...

Hey guys, how does taxing a trust works?
Lets say there is a paid off property in a trust that is worth 100K, and brings 1K per month per rent. So its about 12K per year in rent. But, lets say we spend 2 k per year i...

Hopefully someone can give me some helpful info.  My main concern is with the tax implications.We just purchased a SFR, actually a Manufactured Double Wide on a Basement and 1 acre of land.  The property is being purc...

has anyone had any experience, from a tax standpoint, in assigning a contract for profit? in other words, what type of income does irs consider this transaction for person assigning?

jim

This is not a post to support or bash the Marginal tax rate system. But rather a simple explanation to common errors we hear on the news, in conversations, etc.

Many people believe that if you earn $1 more than the...