2 results for tag: Capital Losses
2021 Last-Minute Year-End Tax Strategies for Your Stock Portfolio
Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo
The Basic Strategy:
Avoid the high taxes (up to 40.8 percent) on short-term capital gains and ordinary income.
Lower the taxes to zero—or if you can’t do that, then lower them to 23.8 percent or less by making the profits subject to long-term capital gains taxes.
Think of this: you are paying taxes at a 71.4 percent higher rate when you pay at 40.8 percent rather than the tax-favored 23.8 percent.
And if you can avoid that higher rate with some easy adjustments in your stock portfolio, doesn’t it make sense to ...
2020 Last-Minute Section 199A Tax Reduction Strategies
As a Business Owner, U.S. Tax Deductions are always welcome. But remember, deductions aren’t static. Allowable U.S. Tax Deductions change over time, and some go away, or, in the case of the Section 199A Deduction, new deductions are added.
The Tax Cuts and Jobs Act (TCJA) that was signed into law in December 2017 was part of a major tax reform that paved the way for the Section 199A Deduction. This part of the tax reform could result in big tax savings for small businesses and real estate investors.
Major elements of the ACT include reducing tax rates for businesses and individuals, increasing the standard deduction and family tax credits, ...