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Facebook Live Episode 17: TAXES Part 3: Capital Gains Tax; what is the *mega* Househack

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Facebook Live Episode 17:
TAXES Part 3: Capital Gains Tax!
Broadcast Live 8/15/2018

Sorry if the audio didn’t get synced in facebook properly! (also, i mistakenly kept calling it episode 16!)

In this episode we discuss

  • Short Term Capital Gains
  • Long Term Capital Gains works
  • a bit about Tax Shelters
  • the *MEGA* househack: The 2 year rule.

Long Term Capital gains tax rates* for Married couples

  • 0% up to $77k taxable income
  • 15%: $77k to $250k taxable income
  • 18.8%: $250k to $479k taxable income
  • 23.8% > $479k taxable income

*fine print confusing stuff. The rates are really 0%/15%/20%, but the 3.8% Net Investment Income Tax (NIIT) comes in at $250k of adjusted gross income (AGI). AND, the long term capital gains rates are based on “Taxable Income” not AGI.

Short Term Capital gains for Married couples

are taxed as ordinary income (regular federal tax brackets) of 10%, 12%, 22%, 24%, 32%, 35%, 37%. But, the NIIT, so it’s really 10%, 12%, 22%, 24%, 27.8%, 35.8%, 38.8%, 40.8%

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