Tag: tax tips

Capital Gains Tax Blog Series 5: Updates for 2023

November 29, 2022

The thresholds for each tax rate are adjusted annually for inflation. The IRS has released ¬†the 2023 thresholds (click here for the 2023 inflation adjustments). ¬†Given the high inflation rates of late, the thresholds will increase at a greater rate for 2023 than they have in recent years. This is good for taxpayers, since itRead more…


Series 4: Tax Loss Harvesting and Carryover of Capital Losses

November 9, 2022

What if you lose money on your investments? A tax loss can be a valuable asset if you use a strategy called “tax loss harvesting,” which is based on the ability to offset capital gains with capital losses so that you only pay tax on your net capital gains. However, there’s a certain sequence youRead more…


Series 3: Capital Gains Tax Rates

November 2, 2022

Long-term capital gains are subject to lower rates of tax than short-term capital gains, which are taxed at ordinary income tax rates. You therefore need to know your holding period for any capital asset you sell. If you hold an asset for more than one year, the gain you realize when you sell it willRead more…


Series 1: What are Capital Gains?

October 13, 2022

Capital gains are the profit you make from selling or trading a “capital asset.” With certain exceptions, a capital asset is generally any property you hold, including: Investment property, such as stocks, bonds, cryptocurrency, real estate, and collectibles; and Property held for personal use, such as a car, house, or home furnishings. There are, however,Read more…


Capital Gains Tax 101: Basic Rules You Need to Know Blog Series

October 4, 2022

Introduction Learn the ins and outs of the capital gains tax, which you may owe if you sell stocks, your home, cryptocurrency, a stamp collection, and much more. Billionaire business owner Warren Buffett once famously commented that his secretary paid taxes at a higher rate than he did. Although there are surely many factors atRead more…


End of Year Tax Planning Tips

September 30, 2020

Ever feel like time is passing by in a flash? The passing days and change in seasons usually signals the end of the year is near. Are you ready to take on tax planning for the end of 2020? PPL is here to help by providing some planning tips for you. Contribute to a HealthRead more…


Tax Filing Tips For The Extended 2020 Deadline

June 30, 2020

Earlier this year, many breathed a sigh of relief when the IRS announced that they moved the 2020 Tax Day from April 15 to July 15. Although the past few months have brought many ups and downs, the weeks and months have gone by fast, and now the July 15 deadline is right around theRead more…