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TaxWealth - Articles

Financial Health

Be Ready for Big Changes: 2021 Tax Planning

Some fear that these tax increases will be retroactive to January 1, 2021, which is certainly possible.

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Financial Health

What Changes You Could See Under Biden’s Tax Plans

You may be wondering how potential tax changes might affect you as we enter the new year. Here are some…

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Financial Health

Texas Apartment Owner Sells – Defers Taxes Due Without 1031…

The tax deferral method most investment property owners use is the 1031 exchange. This IRS code tool encourages more active management…

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Tax Benefits

Dentist Sells Practice After 30 Years – Defers Taxes Due…

The sale of a long-running business usually triggers a big tax bill, and small business owners often struggle to cover…

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Financial Health

State and Local Tax Impacts on a Business Sale

Tax implications triggered by the sale of a business can get complicated when you add state-based…

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Financial Health

Tax Loss Harvesting – Timing and Planning Are Key

As your financial advisor will tell you, whenever you have significant losses in a portfolio of assets, you have the…

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Financial Health

What is Net Investment Income Tax?

As I have mentioned in past columns, the traditional capital gains tax is not the only…

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Tax Benefits

Asking for a Second Opinion Unlocks Great Tax Benefits

Our U.S. Tax Code is complex and multi-layered, with federal, state and local statutes competing to take their share of…

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Financial Health

IRS Audits vs. Tax Planning – Tax Planning Offers You…

Did you know that statistics can offer some very interesting insights about probabilities?  Take, for example, the probability of you…

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Financial Health

Real Estate Developer-to-Investor Status Switch Didn’t Fly with IRS

Developing an action plan to maximize the profit you keep in your pocket in anticipation of a coming tax bill…

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