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Top related persons:
Tom Wheelwright - 4 — - 1 Biden - 1 Wheelwright - 1 Andrew Gordon - 1 Gordon - 1 That's - 1 Tommy Lucas - 1
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Orlando , Florida
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IRS - 4 Finance - 2 WealthAbility - 1 Federal - 1 Getty Images - 1 Gordon Law Group - 1

Search resuls for: "Tom Wheelwright"


6 mentions found


☆ There's another 'tricky' tax deadline on April 15. Here's how to avoid a penalty, experts say
  + stars: | 2024-04-11 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +1 min
If you are racing to file taxes, you could miss another key deadline: the April 15 due date for first-quarter estimated tax payments. Estimated tax payments typically apply to earnings from gig economy work, freelancing, small business, retirement or investing, which may have no tax withholdings. If you expect to owe at least $1,000 in taxes, you must make your first-quarter estimated payment for 2024 by April 15. That can be "tricky" for certain tax filers with federal taxes due on the same day, according to certified public accountant Tom Wheelwright, CEO of WealthAbility. The 2024 payment due dates are April 15, June 17, Sept. 16 and Jan. 15, 2025.
Persons: Tom Wheelwright, — Organizations: WealthAbility, Finance, Federal, IRS
☆ IRS: Taxpayers may avoid a surprise tax bill by making a quarterly payment by Jan. 16
  + stars: | 2024-01-12 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +1 min
The fourth-quarter estimated tax deadline is Jan. 16, and you could have a surprise bill or owe a penalty if you don't send a payment, according to the IRS. While many employers withhold levies from every paycheck, other income — such as freelancing, small business or investment earnings — requires a separate payment to the IRS. Generally, you must make quarterly estimated payments for this income if you expect 2023 tax liability of $1,000 or more. In December, the IRS reminded such taxpayers to make a fourth-quarter tax payment on or before Jan. 16 "to avoid a possible penalty or tax bill when filing in 2024." If you miss the estimated tax payment deadline, you may trigger an interest-based penalty based on the current interest rate and amount that should have been paid, which compounds daily.
Persons: Biden, Tom Wheelwright Organizations: IRS, Finance
☆ You could owe 0% capital gains tax for cryptocurrency in 2023. Here's what crypto investors need to know
  + stars: | 2023-11-17 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +3 min
STR | NurPhoto via Getty ImagesAs investors weigh year-end tax moves, there may be a lesser-known savings opportunity for certain cryptocurrency investors, experts say. After the crypto industry lost nearly $1.4 trillion in 2022, many investors leveraged tax loss harvesting, which uses losses to offset profits. But after a rally in 2023, you may consider strategically selling profitable crypto held in brokerage accounts, known as "tax gain harvesting." Investors "really ought to be paying attention" to tax-free opportunities to harvest crypto gains, according to Wheelwright. Still, the tax gain strategy allows you to sell at a gain and pay no tax, whereas "tax loss harvesting defers future tax," Gordon said.
Persons: Tom Wheelwright, Wheelwright, Andrew Gordon, Gordon, That's Organizations: Getty Images, Gordon Law Group, IRS
☆ Here's how much you can make in 2024 and still pay 0% capital gains taxes
  + stars: | 2023-11-14 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +2 min
The IRS on Thursday released dozens of inflation adjustments for 2024, including higher income tax brackets, increased standard deductions and boosted income thresholds for capital gains. For 2024, there are higher thresholds for the 0%, 15% and 20% long-term capital gains brackets, applying to assets owned for more than one year. How to calculate your capital gains tax bracketYou're more likely to fall into the 0% capital gains bracket in 2024 with higher standard deductions and capital gains income thresholds. "It's really quite a bit of capital gains you can receive without paying any tax," said certified public accountant Tom Wheelwright, CEO of WealthAbility. Who may fall into the 0% capital gains bracket
Persons: Tommy Lucas, Moisand Fitzgerald Tamayo, Lucas, Tom Wheelwright Organizations: IRS Locations: Orlando , Florida
☆ A real estate investor who owns over 1,000 units shares the 21 investing, personal development, and leadership books that helped him find financial freedom at age 36
  + stars: | 2023-03-03 | by ( Lisa Kailai Han | ) www.businessinsider.com   time to read: +14 min
Today, real estate investor Dave Allred has ownership in over 1,250 units across the country. He shared the 21 books that helped him achieve financial freedom at age 36. These books cover real estate and investing, personal development, business, and leadership. In a recent interview, Allred shared with Insider the 21 books — spanning areas such as real estate, investing, personal development, business, and leadership — that helped him find success. This principle is especially close to Allred's heart, since reverse engineering his financial freedom took a meticulous goal-setting process.
☆ A married couple with a 47-unit real estate portfolio worth $19 million share the top 4 books that got them started on the path to building wealth
  + stars: | 2022-09-18 | by ( Lisa Kailai Han | ) www.businessinsider.com   time to read: +7 min
Today, Kenny Simpson and Krystle Moore have amassed a $19 million, 47-unit real estate portfolio. They share their four top book recommendations to help aspiring real estate investors. These cover wealth building, money-saving tax strategies, negotiating, and deal making. Before Kenny Simpson and Krystle Moore met in late 2008, both had previously harbored separate real estate investing ambitions. "If you're thinking about getting into real estate, you need to read 'Rich Dad Poor Dad.'"
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