Category: <span>Cryptocurrency News</span>

She most recently worked at Duke University and is the owner of Peggy James, CPA, PLLC, serving small businesses, nonprofits, solopreneurs, freelancers, and individuals. Censorship-resistance as a new standard of Web products and services. The future remains bright, and remains tied to blockchain and crypto, if you know where to look.

For example, you could have a Twitter account, a YouTube account and a Reddit account. DAOs are technically defined according to agreed-upon smart contracts that automate decentralized decision making over a set of resources . Web3 gives you ownership of your digital assets in an unprecedented way. If you purchase an item from the game, it will be linked directly to your account.

In 1989, at CERN, Geneva, Tim Berners-Lee was busy developing the protocols that would become the World Wide Web. To create open, decentralized protocols that allowed information-sharing from anywhere on Earth. Some companies are adopting a hybrid approach to blockchain, which offers the benefits without the constraints. “There are a lot of really interesting new architectures, which put certain things on the blockchain but not others,” he tells me. A social network, for instance, could record your followers and who you follow on the blockchain, but not your posts, giving you the option to delete them. Right now, the inefficiency of blockchain comes at a cost, quite literally.

Personal Finance Insider researches a wide array of offers when making recommendations; however, we make no warranty that such information represents all available products or offers in the marketplace. Web3 advocates suggest that with Web3, the power of technology giants could be challenged. He added that regulators might look to regulate the “users of the service rather than the service itself.” Wood suggests it will be difficult for authorities to regulate the Web3 services themselves. Instead, it could be in an app’s “own self interest” in terms of their product to bring in rules that align with regulators, Wood said.

Private key that unlocks access to owner’s records on a blockchain; the private key can be in a self-hosted wallet or a third-party wallet. Play-to-earn games using NFTsprovide a means for users to earn income. Such games have also spawned nonprofit organizations that leverage gaming proceeds tofund scholarshipsfor underprivileged users. Clients receive 24/7 access to proven management and technology research, expert advice, benchmarks, diagnostics and more.

Evolution of the Web3 Technologies

One potentially big problem is that crypto tokens — which are critical to many web3 applications — currently exist in a regulatory gray zone in the United States. These records would essentially become permanent records of our online lives, and other people could look them up to decide whether to hire us, trust us with some bdswiss reviews task or even date us. Web3, the story goes, will replace these centralized, corporate platforms with open protocols and decentralized, community-run networks, combining the open infrastructure of web1 with the public participation of web2. Web 3.0 may be constructed with AI, semantic web and ubiquitous properties in mind.

This article is about the concept of a World Wide Web based on public blockchains. For the concept based around machine-readability, also called Web 3.0, see Semantic Web. Moreover, Brave’s built-in crypto wallet helps users to avoid the risks that come with installing third-party extensions. Wolfram Alpha has been dipping its toes into the cryptosphere, and in May 2021 announced a collaboration with Filecoin and IPFS to build a unified decentralized services interface. Applying semantics in the Web would enable machines to decode meaning and emotions by analyzing data. Consequently, internet users will have a better experience driven by enhanced data connectivity.

Users can also connect wallets to decentralized apps to use their funds in a variety of ways or showcase their digital items. Anyone can verify ownership of these funds and items using a transparent public ledger. Web2 has gradually emerged as a more interactive internet where users were more involved in generating their own content.

The web in its current form is really great in many ways, but there are some areas where we can do a lot better. Most of us have primarily experienced the web in its current form, commonly referred to as web2. With easier access to a user’s information and reduced privacy thanks to web 3.0, reputation management will be more important than ever. This will enable the intelligent creation and distribution of highly tailored content to every internet user. Many web inventors, including the above-mentioned Jeffrey Zeldman, pioneered the set of technologies used in this internet era. Despite only providing limited information and little to no user interaction, it was the first and most reliable internet in the 1990s.

Experience Information Technology conferences

Like the earlier versions of the internet, Web3 is building off the past generations and adding to it. It is considered the read-write-own or read-write-execute version of the internet. Decentralization, privacy, machine learning and safety are some trends we are already seeing that will shape the Web 3.0 environment. Web3 introduces new paradigms that require learning different mental models than the ones used in Web2.0. A similar education drive happened as Web1.0 was gaining popularity in the late 1990s; proponents of the world wide web used a slew of educational techniques to educate the public from simple metaphors to television broadcasts. Educational initiatives informing Web2 users of these Web3 paradigms are vital for its success.

• In November 2021, James Grimmelmann of Cornell University referred to Web3 as vaporware, calling it “a promised future internet that fixes all the things people don’t like about the current internet, even when it’s contradictory”.
• The first industry to be strongly impacted by Web3 tech was finance , but many more will surely follow.
• At first, many software companies do not worry about monetization.
• The web, also known as the World Wide Web, is the foundational layer for how the internet is used, providing website and application services.

Web3 simply takes this a step further by making the internet accessible to everyone anywhere, at any time. At some point, internet-connected devices will no longer be concentrated on computers and smartphones like in Web 2.0 since IoT technology will bring forth a plethora of new types of smart devices. Web3 is the next stage of the web evolution that would make the internet more intelligent or process information with near-human-like intelligence through the power of AI systems that could run smart programs to assist users. Web 1.0 didn’t have algorithms to sift internet pages, which made it extremely hard for users to find relevant information. Simply put, it was like a one-way highway with a narrow footpath where content creation was done by a select few and information came mostly from directories.

CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must define mdn be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.

Explore deep-dive content to help you stay informed and up to date

Skeptics argue that for all the rhetoric about democratization, ownership opportunities, and mass wealth building, Web3 is nothing more than a giant speculative economy that will mostly make some already-rich people even richer. Wash trading, or selling assets to yourself, and market manipulation have been reported in both crypto and NFT markets, artificially pumping up value and allowing owners to earn coins through sham trades. In an interview on the podcast The Dig, reporters Edward Ongweso Jr. and Jacob Silverman characterized the whole system as an elaborate upward transfer of wealth. Writing in The Atlantic, investor Rex Woodbury called Web3 “the financialization of everything” . On a more granular level, Molly White, a software engineer, created Web3 Is Going Just Great, where she tracks the many hacks, scams, and implosions in the Web3 world, underscoring the pitfalls of the unregulated, Wild West territory. Network effects and economies of scale have led to clear winners, and those companies have produced mind-boggling wealth for themselves and their shareholders by scraping users’ data and selling targeted ads against it.

The potential for disastrous unintended consequences is very real. That information in the hands of an abusive ex-partner or a stalker could be life-threatening. This paved the way for both social networks and user-generated content production to flourish since data can now be distributed and shared between various platforms and applications. Similar to regular crypto wallets, Web3 wallets allow users to interact with their funds on the blockchain.

Brave Browser

But if Web3 products and services are built on blockchains and are decentralized then you’d only have to trust the underlying algorithm to deliver that product. The terms “metaverse” and “Web3” are often conflated, but they actually describe distinct — yet related — concepts. Metaverse denotes an evolving vision of a digitally native world in which we will spend our time working, socializing and engaging in all types of activities. Web3 provides decentralized protocols and a technology stack that can be used to build parts of a metaverse and the new communities and economies that it will enable. If the web of the beginnings, called 1.0, revolved around hyperlinks, and web 2.0 revolves around social networks; web 3.0 is based on tokens, the digital units of exchange of blockchain technologies.

Create a Web3 wallet

Back in the day, creating user pages or even commenting on articles weren’t a thing. While the bear market devastated the high-risk sector of crypto gaming, it’s not game over just yet. A number of high-quality crypto games are still in development, while Web2 gaming behemoths like Epic Games are distributing Web3 games. Expect a strong resurgence in blockchain gaming, when developers figure out how to make it fun and exciting enough for players. Web3 proposes a very different metaverse vision, one that is fully open to anyone, decentralized, interoperable, open-source and will reward creators and security contributors fairly.

Immutability also could spell major problems for Web3 in some places, such as Europe, where the General Data Protection Regulation enshrines the right to have personal data erased. The possibilities are endless, cex kingston and there’s a focus on what it can do — or will do, according to optimists. I’m old enough to remember when the unfettered discourse enabled by Twitter and Facebook was supposed to sow democracy the world over.

What once required specialized knowledge and connections was now a few mouse clicks away. Sensing the opportunity in the rapidly growing market, corporations staked out their territory in Web2, leading to a more centralized internet. In order to understand Web3, it’s first important to get a clearer picture of the internet’s evolution over time. Depending on your age, it’s possible you never even experienced Web1, the internet’s very first incarnation.

What is the metaverse? An explanation and in-depth guide

Despite the many benefits of Web3 in its current form, there are still many limitations that the ecosystem must address for it to flourish. We are currently exploring what DAOs are and how they might evolve in the future. All of these communities have different levels of decentralization and automation through code. “The development of Web 3.0 adds to all of that the establishment of trust because civil liberties will be embedded in its underlying structure,” he argues. It is already resonating in Silicon Valley and has been in development for years. People who believe in the project can buy and hold ownership, and people who think the project is headed in the wrong direction can signal this by selling their stake.

You could also sell subdomains on a secondary marketplace. I’m a member of the Cyberkongz NFT community and the project plans on selling .Kongs ENS subdomains with its NFTS. ENS domains are registered using the ER-721 standard. You can store, transfer, and trade them in the same way. You can also these non-fungible tokens as a type of investment. If you have been in crypto for a bit, you will find it very easy to get your .eth address.

If you visit for the first time or always clean your cache, the address is sent to your local DNS server . Suppose the local DNS server has the records, excellent. The first thing I did after that news broke was, searching how much other beverage ENS addresses would cost.

Since every ENS domain is an NFT, they are all censorship resistant. That means you maintain complete control over your ENS domain. No entity can access your domain to modify it or take it over. This makes it much easier to How to Code an App send and receive crypto to and from your wallet. They also have several other technical use cases too. For example, many developers and project owners use ENS domain names to build decentralized applications and websites.

ENS Is Deployed on the Most Popular Blockchain

As long as Ethereum remains in good standing and ENS continues to innovate, the concoction could lead to the overall longevity of ENS. That’s why the New England Patriots bought “Patriots.eth” for $99,000. For example, the ENS name “Paradigm.eth” (originally purchased for $5.62) sold for $1.5 million one year after its initial purchase. An ENS domain name isn’t meant as a top-level domain system either. If you paste an ENS domain into Google Chrome, it will have trouble resolving it unless you add HTTPS. Below, I explain what web 3.0 content creators and publishers can do with an ENS domain.

• You can accumulate a reputation and grow a following around this online avatar while maintaining your privacy.
• Ownership and other records are verifiable via the Ethereum blockchain.
• So, if you want to become part of a large community, ENS domains are a great way to get involved.
• ENS is the Ethereum equivalent of DNS, the Ethereum Name service.
• One of the main benefits of ENS is that it’s built on the most trusted blockchain in the industry.
• ENS on OpenseaLikely one of the top reasons many people are buying ENS domains is for the potential to make a profit.

When going to a website, all we do is enter its domain name in our browser, and voila. But in the backend, the Domain Name System is hard at work. You’re supposed to put all your social media icons in this section, but we’re only on Twitter, so we’ve included it five times. Ethereum 2.0 is on the verge of launching (it’s slated to happen in late 2020). Read our in-depth guide to valuing Ethereum Domain Names.

VeChain führend in der Blockchain-Branche bei Nachhaltigkeit, Kohlenstoffmanagement und NFTs – Bericht

If the name you’re looking at is available, you can register it. Note that you’ll never be listed as “owner” on ENS.domains, as you effectively lease out the address. Any device that connects to it gets a unique IP address similar to the address you live in that enables others to find you. With the difference that street names can be used frequently across cities, whereas IP addresses are genuinely unique.

Select one of our categories to find out which domain names we currently have for sale. That means risk remains minimal, while the potential for something great to come from owning an ENS domain name remains unimaginable. Of course, new Cryptocurrency Trading 2020 are registered daily so that’s not to say that each individual domain is viewed as being historically significant. For every ENS domain you own, you can create an unlimited amount of subdomains. That said, traditional web2 domains will likely continue to coexist with up-and-coming web3 domains, such as ENS.

Why Wait to Buy Your First Ethereum Name – Start Today!

Holders who own desirable names are undoubtedly pioneers in the web3 space. Before NFTs, there was no way to prove ownership of a digital asset. But, since ENS domains live on the blockchain—a decentralized ledger—they are secured by thousands of servers all around the world.

And scroll down to see the video accompanying this post. Discover what are ENS domains, if you should buy one and how you can use them. Make sure to switch to Ethereum mainnet for smoother connectivity. Once done, just type in the desirable domain name and check the availability.

I’d compare buying and selling Can You Buy Bitcoin With Debit Card On Litecoin Atm, Can You Buy Dogecoin Stock On Etrade comparable to traditional domain name speculation. Now, someone can send relevant crypto using my ENS domain name rather than a complicated address. It’s much easier remembering bryanjcollins.eth than a long series of numbers and letters, which are easily mixed up. But unlike the centralized domain name system, an eth address can be a lot more than just a place to host a website.

How to get an ENS (.eth) address

Spend any time in Discord communities or on Twitter, and you’ll quickly come across people using NFTs as picture-for-profiles. Many add their .eth or ENS domains in their handle or bio to build their avatar’s credibility. A .eth domain is a way of creating a pseudonym or online person. You can accumulate a reputation and grow a following around this online avatar while maintaining your privacy. Associating a picture-for-profile NFT with an ENS domain fuels this process.

Create an ENS Subdomain

At the end of the day, your domain is only as secure as you are cautious. One wrong move and your domain could fall into the hands of someone with bad intentions. Ultimately, ENS domains are one of the best onboarding assets into the world of web3. The initial contract is dated March 10, 2017, meaning it’s the 8th NFT contract to have been minted on the network. At the very least, fact remains that the Ethereum Name Service is one of the earliest NFTs ever minted on the Ethereum blockchain.

Associating an avatar with an ENS domain name is particularly useful. Essentially, this step links a verified picture-for-profile NFT that you own with an ENS address. Your avatar then appears on OpenSea and other web 3.0 properties. You don’t need to know the IP address of a website it, that’s what a memorable .com name is for. ENS domains are a blockchain version whereby you can use an ENS name instead of a complicated string of characters and letters. And are they a replacement for a traditional .com domain name?

Useful Links

Typically, you usually paste in an Ethereum address to view transactions and holdings. But if I paste in an Ethereum Name Service address, I can see all of the transactions on a particular wallet too. Your wallet will open and require you to confirm the first of two transactions. Once verified, there is a 1 min waiting period to ensure no other person tries to register the name simultaneously. After that, your wallet will re-open, and you can confirm the second transaction to finalize your domain registration. After a few uses, I suspect that more savvy crypto-users tend not to check the full address anymore, but just the first four and last four characters.

Whether you want to own your brand’s identity or your own, ENS names allow you to do so. An ENS subdomain is an addition to a primary blockchain domain name. To buy a ENS domain name, use Ethereum Name Service, Unstoppable Domains or MyEtherWallet. On first glance, buying an ENS domain name looks cheaper than a .com. However, you also must pay gas or Gwei, a fee for using the Ethereum blockchain. We’ve detected that JavaScript is disabled in this browser.

Is a cryptocurrency writer with over 4-years of writing experience. She focuses on news writing and is skilled in sourcing hot topics. Alex is a professional writer and the creator of Cyber Scrilla. His passion for Web3 and blockchain tech comes from years of experience in the space as an investor and collector. He previously worked for Gary Vaynerchuk as his NFT Editor at ONE37pm and still contributes to this day.

With your drop in income, you’re now in a lower tax bracket — which means fewer taxes on any home sale during this period. In addition to planning for federal taxes on the sale of a business, it’s also important to consider what you might owe in state taxes. If you do business in a state that doesn’t assess income tax, then you might be at an advantage. But if not, then you’ll also need to consider how you can reduce the amount of tax you might owe on the sale.

You may invest in actual gold by purchasing an exchange-traded fund. In this scenario, you will be a de facto owner of gold bullion. The high expenses of holding gold are commonly attributed to dealers’ markups and storage fees for physical gold or the management and trading fees charged by gold ETFs.

For example, if you sell your primary residence, you may be able to exclude a certain amount of your capital gain from taxation. Section 121 is a provision of the tax code that allows home sellers to exclude $250,000 or $500,000 of their capital gains from taxation, depending on their filing status. If you’re selling a primary resilience that you’ve owned and lived in for at least two of the past five years, you likely qualify for this exclusion.

However, if you use the money to buy a new house where you would stay for long, the government will not tax the earnings as a capital gain. You may reduce your capital gains taxes on gold and other precious metals by using one of three standard strategies. Capital Gains Tax is a tax on the profits that arise when a capital asset, such as a stock, bond or real estate, is sold for more than its purchase price. Investing in precious metals such as gold or silver can significantly diversify your portfolio and protect your wealth.

You must have lived in the home for at least two of the past five years. However, you don’t need to have lived in the home for two consecutive years. By signing up, you agree to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA, and Google’s Privacy Policy and Terms of Service apply. The content on Wealth Pursuits is for informational and educational purposes only and should not be construed as professional financial advice.

Again, there’s where talking to a tax professional who’s well-versed in your state’s tax laws can help. If you reinvest the money you make from selling your home into another property, you can learn how to avoid capital gains on selling a house. If you’re selling an investment property , your options include a 1031 exchange, converting the property to a primary residence, tax-loss harvesting, and a monetized asset sale. The strategies for curbing your capital gains liability depend on the nature of the house you’re selling. If you’re selling a primary residence , you may be eligible for Section 121 exclusion. Depending on how your gains are classified, and your total taxable income for the year, your capital gains tax rate can vary.

• The only two inevitable things in life are death and taxes, right?
• Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
• The eligibility test, as the IRS calls it, determines whether a home seller can get the maximum exclusion ($250,000 if you’re single or $500,000 if you’re married).
• Residents must meet all criteria to avoid the capital gains tax on a property sale.

If it was zero for everyone, all these shenanigans to avoid the tax could be ignored. Investors can realize losses to offset and cancel their gains for a particular year. Savvy investors harvest capital losses as they occur and then use them on current and future taxes.

#4. Birch Gold Group

In this article, we look at what capital gains taxes are, how they operate, and how to avoid them when selling your home. The government says that if homeowners meet all of the above criteria when selling a home, they do not have to do anything. They’ll receive a tax break, known as Private Residence Relief, automatically. Deduct the tax-free personal allowance from your gross income. Next, you’ll need to add the profits that you made from capital gains.

Trusts can also offset capital gains and a set amount of ordinary capital losses, while carrying excess loss into future tax years. And, as noted, they can carry over excess losses that go beyond the cap to future tax years. Note these losses cannot be passed through to beneficiaries though. Learn how to use a properly prepared estate plan to avoid and reduce paying capital gains tax. The capital gains tax applies to any individual who sells a home to earn profits.

How are capital gains calculated on property?

The capital gains tax is not on the final sale price minus the initial buying price. Instead, the government estimates the CGT based upon how much the value of the home increased after the person passed away. The government only holds them liable to pay CGT on the increase in probate value. Goldco is one of the leading companies in the precious metal industry, offering various services to help people with tax planning for gold investments. Goldco provides multiple products and services to help investors protect their wealth and minimize tax liabilities. The capital gains tax can be deferred indefinitely through a 1031 exchange if the proceeds are reinvested in another investment property.

Keep track of how much you spend on improvements and upgrades to your property, and reflect that amount in your ultimate cost basis. On the other end of your investment, your selling price is what you sell your property for minus any commission or closing fees you pay to sell it. Any previous capital gains exclusion claims must have occurred more than two years prior to the sale. Rebecca McClay is a financial content editor and writer specializing in personal finance and investing topics.

How Do You Avoid Capital Gains Tax on Precious Metals?

By selling the stock at a loss, you can use tax loss harvesting to help offset the taxable gain from the sale of your rental property. It’s great to know that you are able to sell and purchase homes easily. It’s helpful to know that while we review capital gains in selling property on our page, our site doesn’t compute for capital gains tax. It would be best to seek an account / tax expert to get your capital gains tax. Renting your property can be a solid way to cover your mortgage while you live elsewhere. But to be exempt from the capital gains tax, you’ll need to limit how long you rent it.

As a real estate investor, you want your properties to increase in value to create profits when you sell them. However, when you sell a property, you will owe capital gains taxes based on the difference between the sale price and what you paid for it. There are numerous ways that you can reduce or avoid capital gains taxes on a land sale. The IRS treats gold the same way as any other investment asset for calculating capital gains tax. In contrast, the tax rate on gold is higher at 28 percent since it is considered collectible. If you can, you should avoid investing in physical metal to limit your capital gains tax to the more manageable ordinary long-term capital gains rate.

Luckily, there are a few ways investors can avoid the capital gains tax on stocks. In fact, it’s possible for you to pay 0% in capital gains tax… with a little foresight and planning. Your retirement accounts likely make up a bulk of your savings and future assets. It’s wise to optimize these as best you can by utilizing tax-deferred (and tax-exempt) plans, to save yourself from added capital gains taxes. When contributing to a tax-deferred retirement plan, such as a 401 or traditional IRA, you’ll receive a tax deduction on your contributions in the current tax year.

What you’ll pay in taxes for the sale of a business can hinge largely on how you allocate the sale price of individual business assets. The IRS typically allows homeowners to exclude up to $250,000 of capital gains from the sale of their primary residence ($500,000 for married couples). In order to qualify for this exclusion, you must have owned and lived in the home for at least two years prior to the sale. Compare your situation against the eligibility test offered by the IRS. You can’t take it with you, but you can pass it on in your will. Typically the cost basis of investments is adjusted at the date of death, meaning minimal taxable gains when inheritors sell the stock at or near the day-of-death price.

This is a piece of legal advice on capital gains tax for all your assets. To the IRS, a capital gain is considered short-term if it is realized on the sale of an asset within the first year of purchase. Profits from these do not qualify for reduced capital gains tax levels since they are taxed alongside https://cryptolisting.org/ ordinary income. Additionally, IRA investors receive significant tax benefits, making this a superb vehicle for reducing overall tax exposure on retirement savings. Through a Gold IRA, an investor can invest in gold, pay no capital gains tax and defer paying taxes on interest and dividends.

Generally, the income is based on the difference between your sales price and the amount you bought the property for minus selling costs. Currently, the maximum tax paid for long-term capital gains is 20% for people earning over $501,600 . If the proposal had become law, the top capital gain tax would have been increased to 39.6% for households with over $1 million in reported income.

Invest in Opportunity Funds

This encourages investors to sell great investment vehicles during a temporary dip only to buy them back again 30 days later for a new cost basis. With this method, you can carry over losses from one tax year into the next, to help offset future gains. Tax loss harvesting only applies if your losses in a given year exceed your total gains. Capital gains can be classified as either short-term or long-term, each of which has its own tax rates.

Tips for Investing

This has been true for decades, even as the exact income brackets and tax rates have changed with each successive tax reform legislation. Understanding the difference between short-term and long-term capital gains is important because the two types of gains face different capital gains tax rates. If you sell a property within a year of purchase, you will incur a short-term capital gain. The tax rates for such transactions is identical to whatever your income tax rate is at the time of the sale. Once you sell any property, say your home, you will automatically initiate the capital gains tax.

You would only be subject to capital gains taxes on the difference – or $2,000 – rather than the full $5,000 gain of the second investment. Assets held until the death of the owner aren’t subject to capital gains when they are sold, but they may be subject to estate taxes. The estate tax rate is 35%, but it only applies to total assets over $11.7 million of value. Capital what is fuloos coin gains are deferred in tax-deferred retirement plans such as 401 employer plans or individual retirement plans , meaning you aren’t taxed until you take them out. You can decide in which year to take out money from these accounts. For example, you can take them in years when you have lower income or capital gains, or when you have losses that can offset them.

Your home was your primary residence for at least two years of that same five-year period. You’ve owned your home for at least two years in the five years before you’ve looked to sell it. Use SmartAsset’s tax return calculator to get a quick estimate of how your income, withholdings, deductions and credits impact your tax refund or balance due amount. The property cannot have been purchased in a 1031 exchange in the last five years. You need to have owned and lived in the property for at least two years. Even if you don’t meet the eligibility test for full exclusion of gain, you may qualify for partial exclusion.

Back in November, the House passed the $1.7 trillion “Build Back Better Act,” a scaled-down version of the original Plan proposed by Biden. Several tax provisions, including increasing the top capital gains tax rate to 25%, were eliminated from the Act. The Senate is expected to vote on the Act early this year, and any modifications made to the original legislation will require a return to the House for a final vote. Here’s exactly what you need to know about capital gains taxes—and how to pay as little as possible. This is because CGT is not really a separate tax, but rather part of your income tax considerations.