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One of the major dilemmas that both married and unmarried home owners face is what happens to the $250/500k capital gains tax exclusion if you sell your home after owning it or living in it for less than two years?

In these situations above you may be denied the $250k/$500k exclusion and have to pay tax on your home sale profits. If you have owned the home for less than a year you may even have to end up paying tax at your top income tax rate (up to 35%), instead of at the 15% long-term capital gains rate.

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Posted in Finance on June 6th, 2008
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When doing an IRA comparison it is imperative to know the differences between the two types available. Here we look at three very important issues to consider.

When you are looking to invest for retirement it is important to run an IRA comparison to see which of the two types of IRAs is going to work best for you. The two types that you can choose from are a traditional IRA or a Roth IRA. Either option will save you money, however each one has specific benefits and you will need to carefully look at the difference as choosing the wrong one can actually take money out of your pocket.

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Posted in Finance on May 31st, 2008
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The capital gains rate for certain taxpayers will drop to 0% for tax years 2008 through 2010. How can you take advantage of this 0% capital gains rate? First, let’s review the capital gains rate in general.

The capital gains rate for certain taxpayers will drop to 0% for tax years 2008 through 2010. How can you take advantage of this 0% capital gains rate?

First, let’s review the capital gains rate in general.

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Posted in Finance on May 7th, 2008
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