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When inheriting money, be aware of “income in respect of a decedent” issues
- Mar 29, 2022
- By Dukhon Tax
- In Capital Gains, Impact on Taxes, Income Tax, Individual Tax
Once a relatively obscure concept, “income in respect of a decedent” (IRD) may create a surprising tax bill for those who inherit certain types of property, such as IRAs or other retirement plans. Fortunately, there may be ways to minimize or even eliminate the IRD tax bite. Basic rules For the most part, property you inherit isn’t included in your…
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TCJA Tax Strategies 2: Capital Gains – accessing the 0% and 15% capital gain rates and tax planning for capital transactions.
- Dec 02, 2019
- By Dukhon Tax
- In Capital Gains, Impact on Taxes, Tax Advice, Tax Advisor
Often clients inquire with our office with questions like “What is my capital gains rate?” or “How much will I be taxed on a sale of <insert asset here> in 2019?” While it is important to understand the amount of tax to be paid on any given transaction, it is even more important to understand the new opportunities afforded to…