In this episode, we dive deep into:
- The differences between short-term and long-term capital gains across various assets
- Common misunderstandings about tax exemptions for personal and rental properties
- Guidelines on carrying forward losses to offset future gains during tax filings
- The methodology for calculating capital gains upon selling a home, the nuances of personal vs. rental properties, and the impacts of depreciation recapture
"Understanding capital gains tax is crucial for making informed financial decisions and optimizing your tax outcomes." – Jeff Hockett
Connect with Jeff:
Website: https://www.hocketttax.com/
Email: jeff@hocketttax.com
Twitter: https://twitter.com/taxgamecoach
Facebook: https://www.facebook.com/hocketttaxandpayroll
YouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0
LinkedIn: www.linkedin.com/in/hocketttax
Instagram: https://www.instagram.com/hocketttax/
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