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Capital Gains Tax and You – Do You Need to Pay?

capital gains taxDid you make a successful investment this year, or did you sell a property? If that’s the case, you may need to pay capital gains tax. This is a perplexing aspect of the tax code, and we are going to make it much clearer for you.

What is Capital Gains Tax?

Investors from small fish to huge firms are all eligible to pay capital gains tax. Practically all money gained through an investment is taxable, and you need to be aware of that.… Read the rest

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What is the Capital Gains Tax Exclusion for Home Sale?

The chances are the biggest purchase you will ever make in your life is buying a house. The average home price amounts to six figures. However, selling your home also offers you some unique benefits. The main advantage of selling your home is the capital gains tax exclusion.

capital gains exclusion for home sale

What is Capital Gains Tax?

Capital assets can be anything from cars to bonds. Homes are classified as capital assets because it’s termed as a significant asset type. When you make a profit on selling your home, you make a capital gain in tax terms.… Read the rest