Investments that you hold for less than a year are taxed as ordinary income. Investments that you hold longer than one year are taxed at a lower rate.
The real estate market has been busy this year, so if you sold your house this spring or have it on the market you may get a tax break when you sell your home.
With capital gains come capital losses, but you can use your losses against your gains.
To be eligible for the long-term capital gains tax you must have held the asset for at least one year.
Investments that you hold for less than a year and then sell are considered short term investments and are taxed as ordinary income.
Review your tax situation now so you have some idea what tax bracket you will fall into this year.
Dividends are a way a corporation shares its profits with its shareholders.
Hidden in the thousands of pages that W. Mitt Romney shared with the John McCain campaign but will not share with voters is information about the millions of dollars he has made in foreign income.
Mitt Romney pays a SHOCKINGLY low percentage of his income on taxes. For a man of his means seeking public office it is a SHAMEFUL number. But Romney is a man without shame.
WBZ’s Dee Lee discusses some of those miscellaneous items for your tax planning purposes.