The Good Life Report - Capital Gains & Benefits of Yoga
“It is good to have an end to journey toward, but it is the journey that matters in the end.”
– Ursula K. Le Guin
4 Facts About Capital Gains
When you sell a capital asset like an investment or a piece of property, the sale can result in a capital gain or loss. The IRS defines a capital asset as “most property you own for personal use or own as an investment.” Here are four facts you should keep in mind:
1. A capital gain or loss is the difference between what you originally paid for the asset (your basis) and the amount you get when you sell an asset.
2. You must include all capital gains in your income and you may be subject to the Net Investment Income Tax if your income is above certain amounts. Consult a qualified tax expert for help.
3. The IRS allows you to deduct capital losses on the sale of investment property. You cannot deduct losses on the sale of property that you hold for personal use.
4. If your total net capital loss is more than the limit you can deduct, you can carry it over to next year’s tax return.
* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.
Tip adapted from IRS.gov1
Finding Inner Peace Inside (and Indoors)
Practiced for thousands of years, yoga has had a revival in the last couple decades. Yoga can be an optimal exercise choice for many individuals of all ages. But before getting started with any fitness regimen, make sure to discuss any medical concerns with your healthcare provider; this information is not a substitute for medical advice.
While there are many different styles of yoga, generally speaking, yoga is a low-impact form of exercise. But in addition to the fitness benefits, it can help you learn relaxation and breathing techniques as well as how to regulate emotions and quiet your mind. It’s also a great form of exercise to do indoors, and there are thousands of free classes on YouTube So, if you’re still enduring the remnants of winter, you can practice “quieting your inner monologue, doing yoga from the comfort of your own home.
Tip adapted from Healthline.com2
A woman walking along a canal sees a boat full of people, yet there isn't a single person on board. How could this be?
Last week’s riddle: What appears once in a minute, twice in a moment, but never in a decade? Answer: The letter M.
Elephants at sunrise near Mt. Kilimanjaro, Tanzania.
1. IRS.gov, October 14, 2020
2. Healthline.com, September 23, 2020