Tax-loss harvesting is about minimizing capital gains taxes on your investment portfolio. With care, you can keep more money in your account rather than giving it to the IRS. Read on to see how several strategies work. Tax-loss harvesting offsets capital gains that result from selling securities at a profit, and it is applicable to […]
Archives for November 2020
Did You Know You Might Owe Taxes On Debt That’s Forgiven? Here’s How It Works.
When you owe creditors money that you can’t afford to repay, sometimes you may be able to get the debt forgiven or otherwise canceled. When this happens, you no longer owe your creditors the money that you used to owe them. The IRS, however, usually treats such canceled debt as income that you’ve received. Income […]
How Mutual Fund Investments Are Taxed
Do you invest in mutual funds? Unless you hold your investment in a tax-deferred account, you’ll want to consider taxes when you look at a fund’s returns. After all, it’s not what your fund earns but what you keep that counts. Distributions of Fund Income Mutual funds are required to distribute almost all of their […]
Did You Make Money with Cryptocurrency? How to Get Right with the IRS
Did You Make Money with Cryptocurrency? How to Get Right with the IRS For early adopters of Bitcoin, Ethereum and other popular cryptocurrencies, the profit potential has been simply stunning. While there have been some heart stopping moments and frightening ups and downs, the clear long-term trajectory has been upward. If you are one of […]