“Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.” ~Ayn Rand Every year around this time I become keenly aware of the reality that TAXES are indeed one of, if not the biggest drag on my financial life. They cast potentially a lot […]
How to Avoid Capital Gains Tax on Real Estate
“Don’t just learn the tricks of the trade. Learn the trade.” ~ James Bennis One of the biggest drags on our financial lives is the dreaded certainty of TAXES. It’s true – it’s kind of a bummer when you work hard to make $100 only to be left with $55 worth of spendable income. The […]
How Much Capital Gains Tax Do I Have to Pay
Some time ago I published an article entitled What Is Depreciation in Real Estate. Today I’d like to further consider what impact depreciation has on taxation upon the sale of an asset – the capital gains, by shedding light on the concepts of Cost Basis, Taxable Income, and Capital Gains as they relate to a […]