News & Articles

Capital vs. Ordinary: Classifying Income and Losses Affects Your Taxes

Posted on Thu, May 18, 2017

Most of the time, how to classify gains and losses from selling an asset is fairly straightforward. But there are some gray areas that require a closer look at the facts and circumstances, especially when real estate is involved, as a couple of recent cases demonstrate.

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Tags: Real Property Tax, Income, Capital Gains, Ordinary Gains

What's New on Your 2013 Form 1040

Posted on Mon, Jan 27, 2014

The IRS starts processing individual tax returns on January 31. But beware. Upper-income taxpayers could owe significantly more when they file their returns this year. Here's more information on the key tax law changes that took effect for the 2013 tax year. 

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Tags: CPA Firm, Echelbarger, Higher, EHTC, Individual Tax Increases, Medicare Tax, Capital Gains