When you sell an asset its tax treatment is determined on whether or not the asset is considered a “personal asset”. If it is, then you are taxed on the profit but cannot deduct a loss. If it’s not a personal asset then you are taxed on the profit but can also deduct a loss if you have one.
Last week, the National Bureau of Economic Research announced that the recession ended in June 2009. According to the announcement, the economic downturn reached a plateau that month and hasn’t decreased since then. In other words, we are now on the painfully slow journey to recovery. The end of a recession doesn’t mean that economic […]
How would you feel if you wasted $3? Guilty? Like a squanderer? Would you take measures to ensure it didn’t happen again? Or could you care less? Let us know in a comment. Meanwhile, here’s how I recently changed my mindset own thinking on this very issue: Last weekend, my fiancé and I rented a […]
We all want to save money, but not by skimping on fun times with good friends…especially as the last warm days of summer tick away. But lets’ face it: Going out for dinner and drinks is hardly budget-friendly. That’s why these days, staying in is the new going out. You don’t need a birthday or […]
Editor’s Note: To avoid any confusion, Amber is not a new writer…it’s just the real name of the contributor formerly known as “Carrie from Carrie on the Cheap”. New name, same great writing. If you get a chance, check out Amber’s renamed blog Blonde and Balanced for more tips on saving money and living well. […]
You can hear the sound of ocean waves crashing in next to you, the sun is kissing your cheeks, a salty breeze is cooling your skin, and a polite waiter is slipping an icy drink into your hand while softly saying, “that’ll be sixteen dollars, miss…” Wait, what?! Yep, this is exactly where our long-awaited […]
Some say your twenties are the best years of your life. They are years to be carefree and have fun. They are years to grow as an adult, and to find your place in the world. They are also the years of: Weddings Weddings And more weddings! You will spend many weekends every year attending […]