How to leverage the 0% capital gains bracket as bitcoin surges
Hispanolistic | E+ | Getty Images Crypto investors could face higher taxes amid the surging price of bitcoin. But if you’re in the 0% capital gains bracket, you can reduce future taxes with a lesser-known strategy, experts say. The tactic, known as tax-gain harvesting, is selling profitable crypto in a lower-income year. You can leverage the […]
Here’s how to reduce a ‘tax bomb’ on an inherited IRA
Greg Hinsdale | The Image Bank | Getty Images If you’ve inherited a pretax individual retirement account since 2020, you could face a sizable tax bill without proper planning, experts say. Previously, heirs could take inherited IRA withdrawals over their lifetime, known as the “stretch IRA.” However, the Secure Act of 2019 enacted the “10-year […]
How to reduce capital gains taxes on your home sale
The Good Brigade | Digitalvision | Getty Images More Americans are paying capital gains taxes on home sale profits amid soaring property values — but there are ways to reduce your bill, experts say. In 2023, nearly 8% of U.S. home sales yielded profits exceeding $500,000, compared with about 3% in 2019, according to an […]
Here’s how to get a faster tax refund, expert says
D3sign | Moment | Getty Images Tax season has kicked off and the IRS has started to process 2023 returns. If you’re expecting a refund, there are a few ways to get the money faster, experts say. Often, “self-inflicted mistakes” cause refund delays, according to Mark Steber, chief tax information officer at Jackson Hewitt. The […]
How to protect yourself from tax identity theft this season
5M3photos | Moment | Getty Images As the start of tax season approaches, experts are warning filers about tax-related identity theft, an issue that often halts returns and delays refunds. Tax identity theft happens when criminals use your personal information to file a return in your name and claim your refund — and “it continues […]
Here’s how to use exchange-traded funds in your portfolio, experts say
Morsa Images | Getty Images Whether you’re a new or a seasoned investor, exchange-traded funds, or ETFs, are one option for your portfolio, depending on your goals and risk tolerance, experts say. ETFs are a wrapper for individual assets such as stocks and bonds, similar to mutual funds. However, many ETFs have better tax efficiency […]