I bought land in 2007 for $22.5K and sold it for $21.5K in 2013, taking a loss of $1K. Are the proceeds of the sale taxable since I took a loss?

September 18th, 2023

I am a young professional in Massachusetts. I am gaining money from an ESPP stock program and a separate RSU award vesting in the next week. I'd like to know the tax implications if I were to sell immediately. Do I get taxed on the ESPP and the RSU the same way? As I understand, I get the initial Sell-To-Cover tax that the company takes from my stocks, and then I have to pay capital gains when I sell. Can my broker cover the tax then, or do I declare at the end of the year?

April 13th, 2023

I own a rental house in California that I plan to retire and move back into. The house needs significant repairs to restore its condition. Are the repairs deductible? Would it be better to delay moving until January 1, 2014? How would it work if I move back before the end of 2013? Also, if I live in it for two years and sell, how would capital gains work?

July 2nd, 2023

When parents are divorced and a child spends equal time with each parent, is the deciding factor as to who can claim the child for all purposes the one with the highest Adjusted Gross Income (AGI)?

October 10th, 2023

I have been approached to purchase a percent ownership in a collegiate baseball franchise. How would I go about purchasing without using my name? Could I set up a trust and/or an LLC?

March 18th, 2024