by Christina Minton | Jul 8, 2024 | Your Income
You may be considering booking stock losses due to recent market drops. Selling losers can be a great strategy when these losses can offset other gains and up to $3,000 of your ordinary income. However, there is a little-known rule called the wash sale rule that could...
by Christina Minton | Feb 18, 2024 | Your Income
Understand the rules now to avoid a tax surprise later There is large tax break that allows you to exclude up to $250,000 ($500,000 married) in capital gains on the sale of your personal residence. But making the assumption that this gain exclusion will always keep...
by Christina Minton | Feb 5, 2024 | Your Income
A great place to lower your taxes The tax code has plenty of ways to reduce your taxable income, and many take place on your paycheck. If you haven’t already done so, now is a great time to conduct a thorough review of your paystub. Here are some tips: Review...
by Christina Minton | Oct 30, 2023 | Your Income
Everybody likes getting something for free, and taxes are no different. If you invest in securities such as municipal bonds (munis) or municipal bond funds, you can generate tax-free interest income. Here is what you need to know. Advantages of municipal bonds You pay...
by Christina Minton | Sep 4, 2023 | Your Income
Not all income is the same in the eyes of the tax code The tax code uses jargon that can be confusing for the unwary. One of them that impacts most of us is the term unearned income. Unearned income is often defined as anything that is not earned income. If you find...
by Christina Minton | Aug 14, 2023 | Your Income
What everyone should know When you win a prize, there are really two winners: you and the taxing authorities. Should you be fortunate enough to win that trip of a lifetime to the French Riviera in your new yacht, here is what you need to know. Prizes and taxes Prizes...
