Knowledge Base
Lee Anderson writes about tax strategy, estate planning, and wealth management for FatFire, covering the questions that matter to high-net-worth households pursuing financial independence. Every article draws on primary sources including IRS guidance, fund prospectuses, and academic research, and is reviewed against the FatFire editorial standards (fatfire.com/editorial-standards/) before publication.
516 articles — page 8 of 43
Hungary's capital gains tax rate sits at a flat 15%, applied through the personal income tax system with no separate CGT category. For property held more than five years, the tax drops to zero.
Silent auction items and tax deductions follow a specific IRS framework that most bidders and donors get wrong.
Selling farmland held for decades can generate a federal tax bill exceeding 23.8% of your gain before a single state dollar is added.
The short answer: almost always ordinary income.
Charity golf tournaments generate hundreds of millions of dollars annually for nonprofits, according to the National Golf Foundation, but most participants claim far less than they're entitled to, or claim amounts the IRS won't support. The deductibility rules are specific, the documentation requir
The short answer: no. Death benefits paid to a beneficiary are excluded from gross income under IRC Section 101(a).
The short answer: sometimes, partially, and almost never through Schedule A if you earn what this audience earns.
Under IRC Section 121, single filers can exclude up to $250,000 in home sale gains from federal tax; married couples filing jointly can exclude up to $500,000.
The short answer: no. The 401k capital gains tax question trips up a surprising number of high earners, but the mechanics are straightforward once you understand them.
Wealth management fees are not a rounding error at high net worth levels. On a $10M portfolio, the difference between a 1.0% and 0.50% AUM fee is $50,000 per year.
Hong Kong imposes no capital gains tax. That single fact attracts billions in annual foreign investment and makes the city structurally different from virtually every other major financial center.
California's taxation of out-of-state capital gains follows one rule above all others: residency.