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Tag: capital gains tax

Litchfield, NH Resident Looks to Reduce Her Tax Burden

Maximizing 401(k) contributions, charitable donations, and selling underperforming investments are all ways to reduce your taxable income before the end of the year. Another option is to put money aside in a health savings account (HSA) or traditional IRA. You have until December 31st to make these moves, reducing your taxable income for the calendar year.

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How Does a House Sale Affect Your Taxes

Brookline, NH Home Seller Has Questions

If you sell a home for a profit over what you paid for it, you will not have to pay taxes on this profit unless the gains exceed the threshold set by the IRS.  For single filers, this is $125,000 and $250,000 for married taxpayers.  Beyond this dollar amount, the remaining profit may be taxed as capital gains.

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