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Category: Taxes

Home Archive by Category "Taxes"

A Taxing Story: Capital Gains and Losses

February 11, 2021Yana SogolovTaxesNo comments

Chris Rock once remarked, “You don’t pay taxes – they take taxes.”1 That applies not only to income, but also to capital gains. Capital gains result when an individual sells an investment for an amount greater than their purchase price. Capital gains are categorized as short-term gains (a gain realized on an asset held one year…

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Claiming the Medical Expenses Tax Deduction

June 27, 2013Yana SogolovTaxes

In a given year, relatively few Americans take advantage of the federal income tax deduction for unreimbursed medical expenses. But if an illness or hospitalization in the family has led to an abrupt rise in your out-of-pocket health care expenses, you may find you qualify for some relief at tax time. Beyond the usual remittances…

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