Welcome Guest. Register Now!  


For 2012 Tax Tips For Year 2012.


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 11-30-2012, 07:47 PM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,397
Blog Entries: 3
Why is it beneficial to sell Capital Assets that would have a taxable capital gain in 2012?

Taxpayers will find it prudent to sell capital assets that will result in a capital gains tax at the 15% rate in 2012, versus selling these assets in 2013 and being subjected to the 20% higher capital gains tax rate as being proposed by Obama Administration.

Although, this is not in effect at moment, but according to many tax experts it appears that this may be a reality!

Thus, it would make sense pay capital gains tax on these potential capital gains at a 15% lower rate and perhaps, possibly avoid the 3.8% surtax if the 2013 income would be high enough to trigger it." As always, it would be wise to consult with you tax professional to ensure whether or not this strategy would be suitable for you.

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 12-05-2012, 05:13 AM
Banned
 
Join Date: Oct 2012
Posts: 6
Hello Friends,

Capital gains are profits from the sale of a capital asset, such as shares of corporate stock, a business, a parcel of land, or a piece of art. Capital gains are generally included in taxable income but are often taxed at a lower rate; under current law, for example, most long-term capital gains face a top rate of 15 percent. Complicated rules impose a range of tax rates on different kinds of gains and can make it difficult for taxpayers to calculate their tax liability. A capital gain occurs when a capital asset is sold or exchanged at a price higher than its basis (its purchase price plus commissions and the cost of improvements net of depreciation). Similarly, a capital loss occurs when an asset is sold for less than its basis. Gains and losses (like other forms of capital income and expense) are all measured in nominal terms-that is, unadjusted for inflation.

Thanks And Regards,
Tony Stevenson


Last edited by Tony Stevenson : 12-05-2012 at 06:00 AM.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
capital gain or comission? family57 Capital Gains 3 06-24-2012 11:24 PM
capital gain jiten solanki Capital Gains 3 01-05-2011 03:56 AM
1041 Capital Gain timber Estate Planning 0 03-22-2010 06:30 PM
Need to sell business in order to get capital gains treatment TMP007 Capital Gains 0 03-29-2009 04:55 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning