| 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.
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