reduction of capital gains tax
Could someone please advise me as to where I can find information pertaining to the reduction of capital gains tax. I believe I read somewhere there is a temporary reduction of capital gains taxes for those in the lowest Federal income tax backets? Any assistance would be helpfull.
Permalink Submitted by John Low on Tue, 2008-06-24 20:11
The capital gains rate for those in the 10% tax bracket will be zero in 2008 and maybe 2009 and 2010. There is a good discussion of the topic at the following
http://www.nysscpa.org/cpajournal/2006/1206/essentials/p40.htm
Permalink Submitted by William Fisher on Tue, 2008-06-24 21:23
Thank you.. The web site is very beneficial…
Permalink Submitted by Alan Spross on Tue, 2008-06-24 23:07
Note that the -0- rate applies to those in the 10% and even the much larger 15% brackets for 2008-2010. If you are in those brackets, you might want to reverse the usual strategy of realizing losses and realize more gains through 2010. But let investment considerations prevail over simple tax breaks…………..