Estate planning is often perceived as a complex, daunting, and even morbid task reserved solely for the wealthy or those nearing the end of their lives. The truth is, however, that estate planning is a crucial aspect of financial wellness regardless of your age, income level, or family structure. Estate planning is about protecting your loved ones, preserving your legacy, and ensuring your wishes are respected should an unexpected tragedy strike.

In today’s complex financial landscape, individuals and small businesses alike are confronted with a staggering array of financial decisions. Focusing on everything from day-to-day expenses to far-reaching long-term goals and all that lies between doesn’t have to be so challenging, though. Learning a few basics can make all the difference. 

While financial analysis and financial planning are both indispensable tools for achieving financial wellness, it’s vital to understand the critical distinctions between them.

Selling a home is a major financial milestone, but it can come with some profound tax implications. Capital gains taxes are applied to the profits earned on an asset sale, including real estate. Learn more about the intricacies of exemptions and tax liability minimization strategies. So precisely how are capital gains taxes calculated when you sell a home?