Tax laws can be so complex, and it’s super helpful to break them down like this. Understanding how different policies can impact our finances is crucial for making informed decisions.
Making profitable investments during this time of political change can be risky without that insight. For me, working with an adviser is the best first step to navigate these complexities and make informed choices.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
Me and my wife make 160000 togethor and i made 10000 in short term capital gains. What should I do do I report that earning when I do my taxes next year
The fact that This type of FREE education only has less than 40K subscribers IS Exactly the problem. Countless other useless videos get millions of views & subscribers. I learned this stuff when there was No UA-cam and I had to pay for the education. Now that it's Free, I'm completely baffled by the lack of interest from people who desperately Need the info the most.
The beautiful thing is, whether or not we know the law, we get the benefits of the law!! So just buy assets for the long-term. Everything else works out great. The problem is most people aren't buying assets. If anything this is a psychological problem, not really a CPA problem 😂❤😂❤😂
Excellent Informative Video! One question, if I retire and I no longer have a salary income (ordinary) and I decide to collect my qualified social security benefit (around 40k) do I qualify for ZERO capital gains tax rate if I sold some long term stock from brokerage account and had 500k in profit or do I only get a zero capital gains on the first 94k and then have to pay 15% CAPITAL GAIN TAX on the 406k?
If you have a construction loan for a new cabin build and have it for over a year and then decide to sell as soon as the build is finished, would you pay short term or long term capital gains?
The beautiful thing is, whether or not we know the law, we get the benefits of the law!! So just buy assets for the long-term. Everything else works out great. The problem is most people aren't buying assets. 😂❤😂❤😂 Sherman can help with vetting my long-term investment strategy??
Hi, the capital gains has recently gone up in the UK for basic tax rates it was 10% now 18%. I've been holding bitcoin for more than a year so will it be tax free? I can't find anything on long term capital gains for the UK...
Say I had a disabled cousin on social security in the 0% tax bracket but eventually he had 1 million dollars in stocks that were sold.. how much in tax would he have to pay total?
Great video! What if you have a capital loss carryover from the year prior and you're in the 0% capital gains tax bracket, and you sell some stock for capital gains...are you allowed to NOT offset capital losses, instead carrying it forward to the next years, effectively taking advantage of the 0% capital gains tax, OR must you offset your capital loss carryover with your gains no matter what? I hope that makes sense!
I've been searching for an answer about adjusted gross income. I will have less than $47000 in income but I sold my home and have around 400,000 in capital gains including my $250000 exclusion. Will the capital gain be added or is that separate from my normal income? Thank you in advance!
@@mycpacoach It’s my personal residence. I’ve lived there for the past 31 years. While caring for my elderly parents, my Sister and I decided to move back to NC. We have property there so no I will not be purchasing another house. Thanks for your quick response!
Tax laws can be so complex, and it’s super helpful to break them down like this. Understanding how different policies can impact our finances is crucial for making informed decisions.
Making profitable investments during this time of political change can be risky without that insight. For me, working with an adviser is the best first step to navigate these complexities and make informed choices.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
Hmmm this is quite interesting, Please can you leave the info of your investment advisor here? I’m in dire need for one.
Nicole Anastasia Plumlee can't divulge much. Most likely, the internet should have her basic info, you can research if you like.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get.
Exactly what I needed to know. Thank You.
Awesome. You’re welcome!
Me and my wife make 160000 togethor and i made 10000 in short term capital gains. What should I do do I report that earning when I do my taxes next year
The fact that This type of FREE education only has less than 40K subscribers IS Exactly the problem. Countless other useless videos get millions of views & subscribers. I learned this stuff when there was No UA-cam and I had to pay for the education. Now that it's Free, I'm completely baffled by the lack of interest from people who desperately Need the info the most.
Great information!!!!! Why is this not taught in schools? Thank you!
Glad you found it helpful! And good question 🤔
The beautiful thing is, whether or not we know the law, we get the benefits of the law!! So just buy assets for the long-term. Everything else works out great. The problem is most people aren't buying assets. If anything this is a psychological problem, not really a CPA problem 😂❤😂❤😂
Does this work on stocks?
Thank you for the video!
Excellent Informative Video! One question, if I retire and I no longer have a salary income (ordinary) and I decide to collect my qualified social security benefit (around 40k) do I qualify for ZERO capital gains tax rate if I sold some long term stock from brokerage account and had 500k in profit or do I only get a zero capital gains on the first 94k and then have to pay 15% CAPITAL GAIN TAX on the 406k?
Thank you for your video
If you have a construction loan for a new cabin build and have it for over a year and then decide to sell as soon as the build is finished, would you pay short term or long term capital gains?
The beautiful thing is, whether or not we know the law, we get the benefits of the law!! So just buy assets for the long-term. Everything else works out great. The problem is most people aren't buying assets. 😂❤😂❤😂
Sherman can help with vetting my long-term investment strategy??
Hi, the capital gains has recently gone up in the UK for basic tax rates it was 10% now 18%. I've been holding bitcoin for more than a year so will it be tax free? I can't find anything on long term capital gains for the UK...
Say I had a disabled cousin on social security in the 0% tax bracket but eventually he had 1 million dollars in stocks that were sold.. how much in tax would he have to pay total?
Great video! What if you have a capital loss carryover from the year prior and you're in the 0% capital gains tax bracket, and you sell some stock for capital gains...are you allowed to NOT offset capital losses, instead carrying it forward to the next years, effectively taking advantage of the 0% capital gains tax, OR must you offset your capital loss carryover with your gains no matter what? I hope that makes sense!
I've been searching for an answer about adjusted gross income. I will have less than $47000 in income but I sold my home and have around 400,000 in capital gains including my $250000 exclusion. Will the capital gain be added or is that separate from my normal income? Thank you in advance!
Hello. Will they count Pension Income as Earned Income, when considering your tax bracket?
It may.
I’m receiving a pension and social security incomes but I’m in the process of selling my home. Will this generate capital gains tax? Thanks
Is it a rental property or personal residence? And are you buying another home?
@@mycpacoach It’s my personal residence. I’ve lived there for the past 31 years. While caring for my elderly parents, my Sister and I decided to move back to NC. We have property there so no I will not be purchasing another house. Thanks for your quick response!
Many tax payers and retirees are SINGLE filers and 99.99% of this videos place only examples that apply to married filers!