You can minimize the taxes on an asset sale by understanding capital gains taxes and planning. By holding an asset for longer than a year, the gain on the sale will usually be taxed at lower rates
Category: Tax
Tax information
Tax Savings for Business Use of Home
Self-employed people that work from home may be able to deduct expenses for the business use of their home. The deduction is available to both owners and renters.
Selling Your Home and Taxes
The tax code offers breaks to some homesellers. In this article we will cover excluding a portion of your profit from taxes, figuring the gain on sale, and the lower rates applicable to long term capital gains.
Estimated Tax for Self-Employed and Small Businesses
Estimated Tax is the method to pay tax on income that is not subject to sufficient withholding, often self-employment and business income. The federal income tax is meant to be pay as you go: taxpayers are required to pay in over the course of a year, then file a return to determine total tax for… Continue reading Estimated Tax for Self-Employed and Small Businesses
Deduction for Business Use of Car
Business owners and the self-employed can deduct the expenses of using their car for business.
Tax Savings for Homeowners, Buyers and Sellers
Homeowners, Buyers and Sellers can save significantly on taxes through planning and preparation.
Top Tax Deductions for Real Estate Agents and Professionals
Tax deductions for real estate agents and pros. Top items that are generally deductible.