Sreeni Meka

Personal Finance, Retirement, Investing
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“Sreeni Meka, Financial Advisor ”
Firm:

Lakeland Wealth Management, LLC

Job Title:

Managing Member

Biography:

Sreeni Meka is the managing member and investment advisor at Lakeland Wealth Management LLC. Sreeni has twenty-four years of investment experience in the equity and derivative markets. Sreeni holds a Masters degree in Mechanical Engineering from The University of Texas at El Paso and an MBA degree in Finance from The University of Memphis and livelong learner.

Education:

MS (Mechanical Engineering), The University of Texas at El Paso
MBA in Finance, University of Memphis

Assets Under Management:

$8 million

Fee Structure:

Flat

CRD Number:

6433808

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How does capital gains tax work?
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Since you bought your house less than 2 years ago (you would have paid no taxes after May 2019) you are supposed to pay taxes on the net gains.

Because you are planning to sell at $350,000 less 6% sales commission ($21,000), you will end up paying taxes on the net gain of $14,000.

Since you held the asset more than one year you may end up paying lower (long-term) capital gain than ordinary short-term gain.

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September 2018