Podcast Episodes

[Tax] 9, Wash Sales

Losses disallowed if identical securities are acquired within 30 days; loss added to new security's basis. --

The CFP Exam is known for its difficulty…

11 months, 3 weeks ago

[Tax] 8, Ordinary Income Rates

Highest rate is 37%; applies to ordinary income, Section 1245 recapture, and short-term capital gains. --

The CFP Exam is known for its difficulty, an…

11 months, 3 weeks ago

[Tax] 6, Related Party Transactions

Losses are disallowed; buyer has double basis (FMV for losses, seller’s basis for gains). --

The CFP Exam is known for its difficulty, and as I embark…

11 months, 3 weeks ago

[Tax] 7, Long-Term Capital Gains Rates

0%, 15%, 20% based on income thresholds; 25% for Section 1250 recapture, 28% for collectibles. --

The CFP Exam is known for its difficulty, and as I e…

11 months, 3 weeks ago

[Tax] 10, Personal Residence Gain Exclusion

Exclude up to $250,000 ($500,000 for MFJ) if ownership and use tests are met. --

The CFP Exam is known for its difficulty, and as I embark on this lea…

11 months, 3 weeks ago

[Tax] 5, Gifted Property Basis

General rule is carryover basis; exceptions apply for loss property and appreciated property with gift tax paid. --

The CFP Exam is known for its diff…

11 months, 3 weeks ago

[Tax] 4, Inherited Property Basis

Basis is FMV at date of death or alternate valuation date; holding period is always long-term. --

The CFP Exam is known for its difficulty, and as I e…

11 months, 3 weeks ago

[Tax] 3, Adjustments to Basis

Increases include capital improvements; decreases include Section 179 and depreciation. --

The CFP Exam is known for its difficulty, and as I embark o…

11 months, 3 weeks ago

[Tax] 2, Cost Basis

Original cost basis includes purchase price, FMV of exchanged property, sales tax, freight, installation, and testing costs. --

The CFP Exam is known …

11 months, 3 weeks ago

[Tax] 1, Types of Assets

Capital, Section 1231, and Ordinary Income Assets. Capital assets include most personal and investment assets, while Section 1231 covers depreciable …

11 months, 3 weeks ago