“When You’re Subjectto Self-Employment Taxes” To get my complete, new articlewith all the details... How much self-employment tax do you have to pay? It’s not always easy to figure out. That’s why you need to read my new article. Do you own your own business? Then you know that you have to pay self-employment taxes to fund your Social Security and Medicare … [Read more...]
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Are Self-Directed IRAs for Real Estate a Good Idea? Maybe Not (Part 2)
Are Self-Directed IRAs for Real Estate a Good Idea? Maybe Not (Part 2) A quick review of Part 1 Part 1 explained several drawbacks of placing real estate in a self-directed IRA. In this article I’ll explain three more problem areas you need to consider before putting real estate in a self-directed IRA. Sure, it sounds good to buy real estate for a self-directed … [Read more...]
Are Self-Directed IRAs for Real Estate a Good Idea? Maybe Not (Part 1)
Are Self-Directed IRAs for Real Estate a Good Idea? Maybe Not (Part 1) Keeping real estate in a self-directed IRA may seem like a smart move. But beware of the possible consequences! To get my complete articlewith all the details... Yes. Holding real estate in your self-directed IRA does have advantages. For example, it diversifies your retirement … [Read more...]
The IRS Wants to Know about Your Crypto
To get my complete articlewith all the details... You see, Uncle Sam wants to know what you’re up to and if you owe any taxes on your crypto activities. The IRS starts to satisfy its curiosity right at the top of your Form 1040. That’s where they ask: “At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any … [Read more...]
How Rental Property Owners Can Avoid the Net Investment Income Tax (NITT)
Do you earn profits from rental property? Then keep on reading to save money! It’s sad but true. If your income is high enough, you’re paying the 3.8% net investment income tax (NITT). Think of the tax as a surtax on your high income. But here’s some good news. If you own profitable real-estate rentals,there are three exemptions you may be able to useto avoid the 3.8% … [Read more...]