5 Tricks for Deferring Capital Gains Tax
A capital gain is a term used in taxation to refer to profit from the sale of a non-inventory item. On the other hand, if the sale proceeds are lower than the asset’s purchase price, a capital loss results. Taxation authorities require you to report gains on the disposal of assets. These taxes are sometimes high, making it necessary to find ways to find ways to keep the amounts minimal or avoid them altogether. Here are top 5 tricks for deferring capital gains tax effectively.
Make certain town an asset for a minimum of a calendar year before thinking of its disposal. Note that, one year from the date of your intended sale, the tax rates could be lower, and that will translate into savings...Read more »