If you’re selling your principal residence, some or all of the profit may be tax free. It depends on your home sale profit and your income. Here are the basic rules.
Have you been contributing enough to your employer’s 401(k) plan or Roth 401(k)? Here are the contribution limits for this year and the recently announced limits for 2021.
For certain charitably inclined taxpayers, donating appreciated stock to charity can be an excellent year-end tax planning strategy. This may be especially true if the stock is highly appreciated and you’d like to sell it but are worried about the tax liability.
Have you recently been awarded restricted stock or do you expect to be awarded such stock this year? The Section 83(b) election can be beneficial if the income at the grant date is negligible or the stock is likely to appreciate significantly. Here’s why.
The TCJA preserves the home sale gain exclusion, so if you’re selling your principal residence, you may be able to exclude up to $250,000 ($500,000 for joint filers) of gain. Learn more about the tax treatment of home sales.