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Tax Tip #7: Calculating Investment Tax

January 22, 2019

The net investment income tax imposes a 3.8% surtax on any investment income that brings your adjusted gross income above the threshold amount of $200,000 for individual filers, $250,000 for joint filing, and $125,000 for married taxpayers filing separately. This tax applies to interest, dividends, and capital gains, as well as rental income from real estate, royalty income […]

Filed Under: At A Glance, Client Tips, Government Affairs, Pro Tips Tagged With: Capital gains, cvarconnect, investment, Motley Fool, Tax, tax reform

Client Tip: No Longer Tax Deductible

December 26, 2018

1. Personal exemptions You can no longer claim a deduction for yourself, your spouse or any of your dependents. Each personal exemption in 2017 provided a $4,050 tax deduction. For example, a family of four could deduct a total of $16,200 in addition to a standard deduction, itemized deductions and any adjustments to income. The […]

Filed Under: At A Glance, Client Tips, Pro Tips Tagged With: alimony, business expense, deductions, exemption, home equity, legal fees, loan interest, Robert D. Flach, Tax, Tax Cuts and Jobs Act

C.A.R. Comment on Tax Bill Being Voted on This Week

December 18, 2017

“We’re still reviewing the exact details of the 500-page bill,” says C.A.R. President Steven White, but what is known is that the limit for the mortgage interest deduction (MID) will be reduced from the current $1 million to $750,000 on mortgages for a first or second home, and the deduction of state and local tax […]

Filed Under: At A Glance, California News, Government Affairs, Industry News Tagged With: C.A.R., Republican, Tax, tax plan, Tax proposal, Trump

Client Tip: Sign Before Jan. 1 to Avoid Tax

December 4, 2017

Some home sellers would need a sale contract inked before the end of 2017 in order to avoid a big tax bill that would be imposed if the tax reform being proposed become law. Both the House and Senate bills would require sellers to have lived in their residence for a longer period of time–at […]

Filed Under: At A Glance, California News, Government Affairs, Industry News Tagged With: 2018, Capital gains, Jan. 1, Tax, Tax proposal

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