Page 37 - Tax Rules News Today : Breaking News, Live Updates & Top Stories | Vimarsana

To buy around 80 new passenger jets. that is happening. there's also speculation in general deals like this might be less and less, given the trump presidency. however, if you think about it, boeing and airbus are two of the largest provider of jobs stateside and that's been one of trump's biggest mantras, he wants to create jobs and keep jobs in the states. probably hard to pass that in congress in terms of scrapping deals. let's talk about apple, as well. ireland accused of avoiding international tax rules. apple are going to be launching an appeal this week against the record tax demand com...

Buy another home. but what are the tax implications of just selling a primary residence for the average american? >> well, your principal residence is a capital asset, and the normal tax rules apply. if you've held the property for more than a year, then you get long-term capital-gain rate, which is 20% or less, which is of course a nice savings from ordinary rates, which could be as much as 40%. so, there is an advantage to home ownership. years past, you could do what's referred to as a 1031 exchange transaction with your principal residence. however, about 15 years ago, congress decided tha...

Buy another home. but what are the tax implications of just selling a primary residence for the average american? >> well, your principal residence is a capital asset, and the normal tax rules apply. if you've held the property for more than a year, then you get long-term capital-gain rate, which is 20% or less, which is of course a nice savings from ordinary rates, which could be as much as 40%. so, there is an advantage to home ownership. years past, you could do what's referred to as a 1031 exchange transaction with your principal residence. however, about 15 years ago, congress decided tha...

Americans, they sell their home and they're going to go buy another home. what are the tax implications of just selling a primary residence for the average american? >> well, your principal residence is a capital asset. and the normal tax rules apply. if you've held the property for more than a year, you get long-term capital gain rates, which is 20% or less. which is, of course, a nice savings from ordinary rates, which could be as much as 40%. there's an advantage to home ownership. years past, you could do what's referred to as a 1031 exchange transaction with your principal residents. howe...

Teeth. so many taxes. i need a drink. multiple and complex taxes are a threat not just because they take more money from them. they give the ruling people power to punish their critics. >> the internal revenue service targets conservative groups. >> at least we found out about that one. how many other times has this happened that we don't know about? complex tax rules are an invitation to the ruling class to abuse power. our best protection is simplicity. if everyone understands the rules, it's hard to manipulate. better protection would be smaller, limited government.