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When a problem comes along, you must skip it. When something's going wrong, you must skip it. Skip it! SKIP IT GOOD! (...Unless you have extra time at the end, in which case you should go back to it and also consider using Process of Elimination.)

The Tax Man Cometh

The Tax Man Cometh

“Now we talk taxes,” Miyagi told Eddie. “What you know about individual income tax fundamentals, like capital gains and tax basis, the alternative minimum tax (AMT), corporate, trust, and estate taxes, and gift taxes?”

“Let’s see…an investment’s tax basis (also known as an investment’s cost basis) is its purchase price, including the commission paid and any other expenses. It is used to determine capital gains and capital losses for tax purposes and can be determined by several metho...

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