SmartAsset: Capital gains tax on real estate investment property
Real estate investments can be lucrative assets. However, they can also incur capital gains taxes that weaken your profits. Fortunately, you can implement tactics that reduce capital gains taxes so you can keep more of your money. Although the IRS taxes short-term and long-term gains differently, you can combat high tax rates on both. We’ll explain short-term and long-term capital gains and how to keep the associated taxes from costing you an arm and a leg.
A financial advisor can help you tax-optimize your investment portfolio. Find a financial advisor today.
What Are Capital Gains Taxes?
You pay capital gains taxes when you profit from selling assets. You can incur two types of capital gains taxes: short-term and long-term. Short-term capital gains are from selling assets you’ve held for less than a year. On the other hand, long-term capital gains come from selling assets after holding them for a year or more. So,…
2023-09-02 10:20:57
Source from finance.yahoo.com