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75While Hurricane Ike Casualty loss deduction -Tax
The new laws have been enacted recently that explains the rules to deduct the losses occurring in 2008 and 2009 by the federal government in the affected areas to ease the suffering of hurricane Ike as well. ...
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73SAVING TAXES??? - ELSS IS THE BEST OPTION
You are sure to be bombarded with ads of Tax Schemes in the coming days as the 'Tax Season' draws near. ULIPs & ELSS will be the prominent ones who will be eyeing your wallet. My advise, Go for Mutual...
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67Wash Sale Rule Buying Stock In 30 Days Loses Deduction
Even great investors have losses. Warren Buffet had big losses in 2008 as did plenty of other investors. Fortunately, the IRS allows you to offset your capital gains by deducting capital losses from investing...
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55Capital Gains Tax on your cottage
A Canadian Tax issue GIFTING THE FAMILY COTTAGE TO THE KIDS...mmm When you think of your family cottage you don't think of it as a building, property or asset, but the birthplace for a kaleidoscope of...
0 comments69Annual Gift Tax Exemption for 2009, 2010
The gift tax is when someone gives property to someone else and receives nothing or less than full value in return. Whether the giver intends the transfer to be a gift or not, it doesn’t matter, the tax...
0 comments71Capital Loss Carry Forward for 2009, 2010
Many of us have experienced capital losses and you may be wondering if there are limits to deducting losses. The answer is yes there are limits but, the good news is that you can also deduct some of the...
0 comments59Short Term Capital Loss Tax for 2009, 2010
So what is a short term capital loss? When it comes to short term capital losses and long term capital losses we need to make the distinction between the two. The determining factor is all about time. It...
0 comments67Long Term Capital Loss Tax for 2009, 2010
When it comes to short term capital losses and long term capital losses we need to make the distinction between the two. The determining factor is all about time. It depends on how long you hold the property...
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57What Is A 1031 Exchange
The United States Internal Revenue Code, Section 1031 also recognized as 1031 exchanges delineates that the exchanges of certain kinds of properties or assets may suspend or defer the recognition of capital...
0 comments58What is Capital Gains Tax?
Explaining capital gains tax is fairly simple but figuring out the amount of tax that must be paid can be much more complicated. Capital gains tax is a tax for the profit of your capital gains. Capital...
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