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Capital Gains Tax

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Tax Benefits of an LLC for Rental Property: What They Are and How to Take Advantage of Them

Rental property is a hot commodity these days, so if you own rental property or are considering investing in real estate, forming a Limited Liability…


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Can Long Term Losses Offset Short Term Gains?

When it comes to investing, taxes play a significant role in determining how much of your profits you actually keep. If you buy and sell…


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Treasury Bonds and Taxes: The Ultimate Guide

In general, income from any type of bond issued by the federal government (including its many agencies), is considered taxable income and therefore subject to…


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Paying Taxes When You Sell a House

[video width="1280" height="720" mp4="https://www.irs.com/wp-content/uploads/2025/03/Taxes_When_Selling_Your_Home.mp4"][/video]   Technically, yes. However, the profit on home sale can be tax free if certain conditions are met. In fact, many…


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What Taxes Are Progressive? A Guide on the Progressive Tax System

What taxes are progressive? Well, all of them! At least at the federal level for income tax. The US federal government utilizes a progressive tax…


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About Paying Taxes on Your Winnings From Gambling

Gambling winnings are fully taxable and must be reported on your tax return. However, there are a few key differences on how you might have…


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How to Know If You Owe Taxes: The Complete Guide

How will you know if you owe taxes? Well, the IRS makes it no secret, truth be told. In fact, they’re supposed to inform you…


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Babies And Tax Returns: A Real (If Unlikely) Pair

[video width="1280" height="720" mp4="https://www.irs.com/wp-content/uploads/2025/03/Babies_and_Income_Tax_Returns1.mp4"][/video] The IRS doesn’t discriminate on the basis of age, not even babies. It’s one of those things that sound funny but…