Dino Tax Co Blog

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Tax Treatment of the Sale of Your Primary Residence

There are always a lot of questions when it comes to people’s primary residences. These inquiries generally pertain to capital gains and losses along with deductibility of certain expenses. With the insane increase in the value of homes in the United States over the last thirty years, this issue makes sense to those who have [...]

Various Tax Treatments in the Sale and Trade of Property

(For a discussion of the basis and adjusted basis of assets, see here.) The sale of property is generally the first thought I have when I think of the term “taxable event.” There are exceptions but, if an event renders the disposal of an asset taxable, and that disposal was voluntary, then a sale has [...]

Determining the Basis of Property

(For a discussion of the tax treatment of the sale and trade of property, see here.) When you sell property, you’ll either have a gain or loss. The lingo associated with this gain or loss is not always intuitive, but is necessary for understanding the overall taxability of the transaction. In that vein, this post [...]

Types of Income: Other Income

(For the articles on wages, salaries, and tips; interest; dividends and other distributions; or rental income and expenses, click here, here, here, or here respectively.) “Other income” is the type of vague phrase that makes people hate the tax code. When all the other types of income on the Form 1040 are exhausted, you have this sink [...]

Types of Income: Rental Income and Expenses

(For the articles on wages, salaries, and tips; interest; dividends and other distributions; or other income click here, here, here, or here respectively.) This article deals with the ins and outs of rental income. For our purposes, rental income is derived from the leasing of real property on a short or long term basis. The aggregate of [...]

Types of Income: Dividends and Other Distributions

(For the articles on wages, salaries, and tips; interest; rental income and expenses; or other income click here, here, here, or here respectively.) An advantageous way to retire is to live on dividends. This would mean that you have invested your money so wisely over the course of your working life that you get paid [...]

Types of Income: Interest

(For the articles on wages, salaries, and tips; dividends and other distributions; rental income and expenses; or other income click here, here, here, or here respectively.) Almost everyone has heard of interest and knows what it is, essentially, making money on your money. It’s a fact of our financialized world, and one that has become [...]

Types of Income: Wages, Salaries, and Tips

(For the articles on interest; dividends and other distributions; rental income and expenses; or other income click here, here, here, or here respectively.) This post might seem more or less like a no-brainer because it talks about two of the types of income that are most commonly found on an individual’s federal tax return. However, [...]

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