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April 2017 Archives

Extension is now automatic if the FBAR filing deadline is missed

If you are required to file a Report of Foreign Bank and Financial Accounts, known as an FBAR, and also called FinCEN Form 114, you may think you have plenty of time to meet this year's deadline -- if you think the filing date is June 30. 

Can you write off a loss on the sale of investment property?

If you are making money off the sale of investment property you will probably owe capital gains. The adjusted basis on the property will be very important – remember to add capital improvements which minimize the amount of gain you realized.

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