Capital Gains Tax

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Almost everything you own is classified as a capital asset by the Internal Revenue Service (IRS). This includes your home, your car, your furniture, a ... read more
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2010 Budget and Retaining Federal Estate Tax
At the end of April, the House and Senate each approved a Fiscal 2010 Budget Resolution which calls for extending the federal estate tax into 2010. Under Bush-era tax legislation enacted in 2001, the estate tax was due to disappear at the stroke of midnight on January 1, 2010. According to a press release ... Read more

Federal Estate Tax May Be Here to Stay
Remember Benjamin Franklin's brilliant and insightful saying, "In this world nothing is certain but death and taxes?" Estate taxes bring those two certainties together. For the past decade or so, federal estate taxes have been less burdensome, and there's even a tax-free year scheduled. Congress, though, ... Read more

Get Your Hands on Energy Stimulus Funds
Congress passed the American Recovery and Reinvestment Act of 2009 (also known as the "Stimulus Act") to pump $787 billion back into the nation's failing economy. A chunk of that money, $16.8 billion, was allotted to the US Department of Energy (DOE) to increase energy efficiency and decrease dependence ... Read more

Congratulations, You Just Won a Jackpot! Now Pay Up!
When you play the lottery, mostly you think about the the cash you'll win.  However, when you win at Powerball or another lottery, the federal and state government win as well. This is because your winning are taxable income. ... Read more

Job Changes, Your Retirement Plan and Rollovers
What happens to your retirement assets when you leave one employer for another? The answer depends upon what your current retirement plan allows and which allowable option you choose. Generally, you'll have several choices, including: Leaving your savings with your former employer Rolling over your savings ... Read more

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You should work with your employer and the IRS on the tax issue. You will owe little or no taxes. Ed Dimon

No, you must report the income in 2015.  As an individual, you are a cash basis taxpayer and you must report the income in the year that you receive the payment.

We have tax attorney and CPA on staff who can answer any estate questions. He would have to speak with you to get the proper information. Ed Dimon

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2016 Presidential Candidate Profile: Mike Huckabee

Follow this link to read about my 2016 Presidential Candidate Profiles. Candidate Profile: Mike Huckabee Current Office: None Age: 60 (born August 24, 1955) Party: Republican Real Clear Poli ... Read more

2016 Presidential Candidate Profile: Rand Paul

Follow this link to read about my 2016 Presidential Candidate Profiles. Candidate Profile: Rand Paul Current Office: United States Senator from Kentucky Party: Republican Real Clear Politics P ... Read more

Study on inheritances: Three trillion euros to be passed on by 2024

Around three trillion euros will be passed on in Germany between 2015 and 2024. That is the finding of a study by the Deutsches Institut f¿¿r Altersvorsorge (German Institute for Retirement Provisio ... Read more

Car Accident Lawsuit: How Taxes Will Apply To Your Settlement

If you have sustained injuries as a result of a car accident, you are probably entitled to compensation for your losses. If you win your case, you are going to receive a settlement. There are differen ... Read more

What Are the 2016 Federal and Massachusetts Estate and Gift Tax Filing Figures?

The Internal Revenue Service has recently announced that in 2016 the federal estate tax exemption will rise from $5,430,000.00 to $5,450,000.00 per person. (Under current law, this figure is adjusted ... Read more

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