10 Tax Planning Strategies for 2026
A business owner waits until filing season to review the books. By then, payroll has already been processed, invoices have been issued, equipment purchases are complete, and appreciated investments may have been sold without considering the tax year. The return can still be prepared, but many planning decisions have already disappeared. Effective tax planning strategies […]
Real Estate Tax Preparer Near Me: Find Your Local Expert
You bought a rental property, collected rent, paid for repairs, and maybe refinanced or sold another asset during the year. Tax season arrives, and the software that handled your W-2 just fine suddenly starts asking questions about depreciation, basis, passive losses, and whether that improvement was a repair or a capital expense. That's usually the […]
Are Broker Fees Tax Deductible? A CPA’s Guide for 2026
For most individual investors, broker fees are not tax-deductible for tax years 2018 through 2025. But those fees can still lower your tax bill by adjusting your cost basis and reducing your taxable capital gain. That's the part most articles miss. They stop at “no” and leave you there. As a practical tax matter, that's […]
Unlock Big Savings: 2nd Home Tax Deductions 2026 Guide
Absolutely. Owning a second home comes with some fantastic tax perks, but many people don't realize just how much they can save. The two biggest benefits are the deductions for mortgage interest and property taxes, which can easily add up to thousands of dollars back in your pocket each year. Tapping Into Your Second Home's […]
A Practical Guide to the 30 Day Wash Sale Rule
The 30-day wash sale rule is a crucial IRS regulation that every investor needs to understand. It’s designed to stop you from selling a security at a loss to get a tax break, only to turn around and buy it right back. If you trigger this rule, that tax loss you were counting on gets […]
A Guide to Cost Basis for Gifted Stock
When you receive stock as a gift, the first thing to know is that you're also receiving the original owner's tax history along with it. The IRS rule for this is called carryover basis, which is just a formal way of saying their original purchase price becomes your starting point for calculating capital gains down […]
How to Calculate Capital Gains A Step-by-Step Guide
At its core, calculating your capital gain is pretty straightforward. You simply take the price you sold an asset for and subtract what you originally paid for it (your cost basis). The leftover profit is what you'll be taxed on. Getting this formula right is the first step to managing your finances smartly and, just […]
A Guide to Flipping Houses Taxes
When you flip a house, your profit is going to get taxed one of two ways. It's either a long-term capital gain (taxed at favorable rates of 0%, 15%, or 20%) or it's ordinary income (taxed at your regular bracket, which can be as high as 37%). What determines that outcome? It all boils down […]
Short Term vs Long Term Capital Gains Explained
It all boils down to one simple thing: time. When you're talking about capital gains, the line between short-term and long-term is drawn at the one-year mark. If you hold an asset for one year or less, your profit is considered a short-term gain and gets taxed at your regular income tax rate. But if […]
Tax implications of selling rental property: Quick guide
Selling a rental property means more than handing over the keys and cashing the check. The IRS treats that sale as a taxable event, and you’ll face two main charges: capital gains tax on the increase in value and depreciation recapture on the deductions you’ve claimed. Understanding how each is calculated can help you manage—and […]