How to Avoid Capital Gains Taxes
For many of the nation’s high net worth individuals, much of their wealth comes from capital gains. Capital gains are better than income because they are taxed at a much lower percentage than other income. While capital gains taxes could be going down under the Trump administration, it still pays to know every trick in the book to avoid paying more taxes on them than you have to.
With that mind, let’s look at some of the important tips you should know in order to keep your capital gains taxes low. One smart move is to use a tax-advantaged retirement account when you invest. When you use a retirement account to invest, your money is allowed to grow tax-deferred, instead of paying a tax on the gains like a normal investment. Plus, if you use a Roth IRA, even your withdrawals are tax-free.
Additionally, the longer you hold your investments the less you will pay in taxes. If you hold an investment for a year or less then you will pay a percentage rate equal to your ordinary income. If you hold them longer than a year your rates decrease substantially.
Always look for opportunities to sell your underperforming stocks in order to offset the gains from your successful stocks. This will lower your tax bill. Lastly, keep track of your home improvements so when it comes time to sell your home you can use those expenses as deductions from any gains you make on the sale price of your home.
https://www.fool.com/retirement/2017/02/07/4-tips-for-avoiding-capital-gains-tax.aspx
Bad Attitudes in the Workplace
Bad Attitudes in the Workplace Studies show that employee morale has taken a hit lately. Worker morale slumped last year, according to the results of a new survey from Randstad, one of the world’s largest professional employment services providers. The review was compiled from 3,233 online interviews, conducted this spring for Randstad by Harris Interactive.…
The Language of Wills
The Language of Wills Many professions and disciplines have their own vocabulary. As an example, think about the terminology used in medicine and law. Often this vocabulary defines complex ideas, yet just as often “terms of art” can be defined with relative ease to a layperson. Such is the case with much of the language…
3 Strategies to Convert Perfectionist Paralysis Into Productivity
3 Strategies to Convert Perfectionist Paralysis Into Productivity By Paula Eder Time management tips help you break time habits that hinder your progress. For example, think of habitual perfectionism as the ultimate time goblin. The more of your time you feed it, the larger and more tyrannical it becomes. Fortunately, perfectionism is a learned behavior…
Venture Capital: Investing In The European Marketplace
Venture Capital: Investing In The European Marketplace By Stephen McLaughlin As anyone who has ever tried it knows, As anyone who has ever tried it knows, venture capital investing is not a game for the weak of heart. While it is certainly true that some venture capitalists have accumulated massive investing is not a game…