Capital Gains & Investments for Seniors
Found 17 Articles.
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Tapping that New Real Estate Wealth for Estate Planning
Managing the equity in appreciated homes and second homes has become a pleasant and unexpected challenge for many. Especially on the coasts, residential real estate values soared the last five years. Suddenly owners, especially long-time owners, have properties that are more valuable than they imagined. For many families, real estate wealth exceeds the value of […]
Homeowner’s Hidden Tax Time Bomb
Many older homeowners are facing a problem that a few years ago was considered unthinkable. These homeowners face taxable capital gains on the sale of their homes, despite the generous $500,000 exemption for married couples. The red hot real estate market of the last five years in many areas has pushed many longtime homeowners into […]
Year-End Tax Planning: It Is Different This Year
This year and next could be the time to make a radical change in year-end tax planning. This year, recognizing extra income and capital gains might be the winning long-term strategy. The traditional year-end tax advice is, whenever possible, to defer income until next year or later. Another leg of the strategy is to accelerate […]
Special Tricks for Tax Season
Most of us need to get set for an unusual tax filing year. The recent tax laws, phased-in provisions, and other factors will keep you on your toes. Prepare for amended returns. Brokerage firms asked the IRS for permission to issue their Form 1099-DIVs a month late. They have to determine which dividends qualify for […]
How to Maximize After-Tax Returns
A few years ago, near the stock market top, I was talking with a frustrated financial advisor. He had a wealthy client who would not let the advisor sell the client’s large position in a major stock. The investor bought the position many years ago, held it through thick and thin, and had a large […]
How to Make Sure Home Sale Gains Are Tax Free
Those of you with two or more homes might owe more taxes on the sale of a home than you thought. Tax-free home sale gains also might be in danger for anyone owning an RV, camper, or boat. Those are the consequences of a recent court case. Under the ruling, the IRS and the courts […]
How to Maximize Shelter and Growth in Second Homes
Stocks and second home sales both soared during the 1990s. They parted ways in the 2000s. While stocks turned south, prices of second homes continued to climb. It is no coincidence. More people are turning to second homes as investment alternatives. The National Association of Realtors reports that purchases of second homes for investment purposes […]
New Rules On Tax Free Home Sales
The IRS recently made it easier to cash out a principal residence tax free by plugging gaps and uncertainties in the 1997 rules on tax-free gains. The IRS filled the gaps in ways that are generous to taxpayers. Previously, anyone with a deductible home office had to separate the tax basis and sale proceeds of […]
