Capital Gains and Losses

Capital Gains and Losses

Capital Gains and Losses Capital Assets Most property you own and use for personal or investment purposes is a capital asset. For example, a house,furniture, car, stocks, and bonds are capital assets. Non-capital Assets A capital asset is any property held by you...
Hobby vs. Business

Hobby vs. Business

Hobby or Business? If an individual, partnership, estate, trust, or an S corporation engages in an activity that is not conducted as a for-profit business, expenses (other than cost of goods sold) are not deductible. This rule does not apply to corporations, other...
Combine Home Sale with the 1031 Exchange

Combine Home Sale with the 1031 Exchange

You don’t often get the opportunity to even consider making a tax-saving double play. But your personal residence combined with a desire for a rental property can provide just such an opportunity. The tax-saving strategy is to combine the tax-avoidance advantage of...