Archive - March 27, 2013

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It Won’t Happen To Me
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Capital Gains And Losses On Your Tax Return

It Won’t Happen To Me

Optimism bias. I would not label myself as “optimistic.” But I am not pessimistic, either. To me, “optimism” conjures up the chorus from the R.E.M. song: “Shiny, happy people holding hands.” Not the image of how I approach life. No, I do not believe things will get better and better, but I do not believe they will get worse and worse. I believe, like most human beings, that they will stay the same. This is one version of what behavior experts call “optimism bias.”

If it was sunny yesterday, it will be sunny today. If I am healthy today, I …

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Capital Gains And Losses On Your Tax Return

When you sell things, including stocks, bonds, real estate, collectibles, and other items, you may either gain money or lose money from the original purchase price.  This gain or loss is known as a capital gain or capital loss, and (with some exceptions) you will report these capital gains or losses on your income tax return.

Often the gains are afforded special tax rates and treatment, and the losses provide additional benefits as well.  This entire area of tax reporting can be confusing and there are special rules that you need to follow in order to make sure that you …

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