With only two weeks remaining in the 2024/2025 tax year, taxpayers have a final opportunity to maximise their tax-deductible ...

In a sale, whether or not you have taxable profit or gain is based on your tax basis in the property sold, not its fair market value. This may seem unfair, because you are only being reimbursed ...

meaning that 10% of the deferred gain can go permanently untaxed. If you hold your QOF investment for at least 7 years, Your tax basis in it is further increased by 5% of the gain that was ...

Step-up in basis is a tax provision that adjusts the cost basis of an inherited asset to its fair market value on the date of the previous owner's death. This adjustment is important because the ...

Investopedia / Theresa Chiechi The federal corporate tax rate in the United States is 21%, and it applies to a corporation's profits. The taxes are paid on a company's taxable income, which ...

It's been almost ten years since Congress decided to make most home sale profits tax-free. When the law changed in 1997, most tax advisers thought it would be safe for most homeowners to stop ...