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If I have a $20,000 long term capital gain and $20,000 long term capital loss, do these cancel out and I do not have a taxable amount?

I have a B. SC degree in Accounting and want fo purse an LLM in Taxation Law. How easy is it going to be for me. And since I don't have an LLB what limitations would I have to practice and in which areas would i be able to work

This tour is splendid with good case studies makes it easily understandable. Thanks

Very interesting - can apply to to attract or discourage investment decisions. - can improve transborder transparency - and. Led to. Stronger exchange of information rules. (BEPS) To address competition issues.

International Tax is about cross border transaction. Transnational tax law comparing different regime, for example US and another system Inbound and outbound

Trans border consideration/Businesses have to do international tax. Inbound/outbound businesses among nations call comparison and competition of tax laws and so on.

Well explanatory..... Thanks

Basically, international tax is not really International except that the system of tax of a particular country may differ from other country but not much difference. E.g rules of taxation are the same everywhere.

My God America.....WAKE UP!! THERE IS NO TAX CRIME BECAUSE......there is NO TAX! TAXABLE YEARS ENDED AUGUST 16 1954!!! Google 26 CFR 1.0-1 paragraph (d) of the IRC of 1954 clearly says TAXABLE YEARS began December 31 1953 and ENDED AUGUST 16 1954 passed into LAW by the 83rd Congress AS LAW and published AS Volume 68A of the United States Statutes at Large.....as LAW. Any Subtitle F compliant enforcement provisions took effect on the day AFTER the date of ENACTMENT which was August 17 1954 but on that day there was NO TAX TO ENFORCE AS the tax died expired the day before on August 16 1954. There has NOT BEEN AN ENFORCEABLE LEGAL INCOME TAX in this country for 70 YEARS!!. We just asserted this fact before the U.S. Tax Court and have had several years of back taxes interest and penalties dismissed by the Court because of lack of Jurisdiction Standing and Merit of the IRS because of the IRC of 1954. We did this without an attorney and only cost us $60 Court filing fee. In addition we had an IRS Notice of Deficiency for non filing of taxes for 2017 dismissed on the same grounds by the Tax Court.

So, what is the tip? All I saw was a Rick Astley video.

Please help me been trying for 26 hours straight I only need to verify myself to get my taxes from 2020

Why is this still limited to $3,000. It's been 45 years now since that amount was set. We've had enough inflation since then to make this amount over $13,000. How about we get with the bleeping times already?

Of all of the tax classes I've taken over the years, Estate & Gift Tax is my favorite, with Tax Procedure & Practice a very close second.

The toughest thing I had to overcome in every tax exam I had taken was this: I had to suppress my natural accountant's impulse and actually answer the questions by "thinking like a lawyer." In other words, I could see the results on the various tax forms but I couldn't answer the questions as a practicing accountant. I had to apply the various Code Sections to the storyline and come to the same conclusion. Thus, while having prior accounting experience is advantageous in a law school tax class, the thing to remember is that this is STILL law school, and the experience is wholly different than what one might be already used to as a practitioner.

But where is the actual law that says you’re liable to pay?

Great job on this. Super helpful!

Thank you so much for this video!

Thanks for creating this!

Question: As I recall, the estate tax is payable from estate resources, and the estate tax return is due nine months from the date of death. Secondly, IRC Section 6324 allows the IRS to go after the beneficiaries for any unpaid taxes after 10 years. Does that still apply?

The marital deduction is quite generous for both the gift tax and estate tax.

Great stuff!!! Keep it up!!!

I tell my own tax students to take a tax class so at the minimum, they won't have to pay H&R Block $300 only to do their taxes wrong...and then pay someone like me $1,500 to clean up the mess. They can at least learn how to do their own returns and go from there.

I would argue that corporate capital gains DO have a rate preference. That's because ALL US corporate taxable income is taxed at a flat 21% rate. Compare that to an individual taxpayer who's at the top 37% marginal tax bracket. Is it any wonder the tax rules have always been corporation friendly???

I have a tax LLM, and I enjoyed the experience greatly. What were your favorite tax classes? I loved Tax Procedure, Problems of Timing, & Estate/Gift Tax.

Great vid. Thank you. Question. What happens if say i buy a New business. For example a gas station for $1.2M where it had 200k of equipment and 1M for the biz itself. Can I only deduct the 200k or all of my purchase price?

me and my boyfriend are going to watch this tonight i cant wait

Loved this! Thank you!

It would be perfect if Tax Collector Barbie took the channel to 1,000 subscribers! It's been at 992 for days!

Hope you enjoy the latest in BiT's #ParodyTrailer line-up! Check out the rest of our parody trailers on our #TaxHumor playlist!

Hello, can someone help me where to find the IRS code thats allegedly 6000 pages

This video brings many insights about tax policy, thanks for sharing your knowledge.

Wish you would take the example to show how the losses are applied to next year's gains.

"You are unwise to lower your income" I'm dying

Thank you for this video!

Can you help? Regarding capital gains/losses pertaining only to equities. If I have a long term capital loss of $20,000 in year 1 and no long term or short term capital gains in year 1 I can utilize $3,000 of the losses to offset ordinary income. That leaves a carry-over of $17,000. If I had a long-term capital gain in year 2 of $17,000, could I utilize the full $17,000 capital loss carry-over from year 1? Or, am I limited to $3,000? If I am limited to $3,000 capital loss annually, does that apply until the $17,000 is exhausted or is there a limited # of carry-over years? I get multiple answers. Thanks for your help. Steve

Great content!

This was indeed a tour of international tax law. Precise and simplified. Thanks

Check out the latest video in our Overviews of Specialized Taxes playlist! These videos provide an overview of a field within tax & usually include tax careers info, as well! Which tax field should we cover next?

you are amazing

Thank you for this video. It was very helpful!

We hope you enjoy this video--the 2nd in our 2-part series on depreciation! What other #IncomeTax topics would you like to see BiT cover?

We hope you find this video helpful! We recommend it for Income Tax students. Watch also for a follow-up video on IRC §§ 179 & 168(k)!

Wow great video. My first video into how to interpret law👍💪💯

Thankyou for doing this, this is very helpful

Loved this , thankyou so much!! Is it possible to make a video on inside and outside basis in partnership, i am not able to wrap my headaround that concept

Complicated explanation,

YASssss just what we needed

This is the 3rd video in our series on tax specialty areas! Which areas should BiT consider covering in the future?

Yay Professor. ❤️ From a Squaddie

We hope you like these short overviews of specialized tax areas. This one also includes a bonus "tax careers" component! Should we make more videos like this?