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Capital Gains Tax exemption till 2010
2008-06-04 00:22:00 Suttabhai will be back to blogging full time from Monday 9th June. While May 2008 has proved to be the most disastrous month for the KSE-100 index in recent times, with the market getting gang-banged from 15,122 to 12,130, the news that CGT has been deferred for 2 years along with no change in CVT should ...
Exciting New Concept in Capital Gains Tax Planning
2008-05-15 03:51:00 I'm very excited about a project I have been working on for quite a while that is coming to fruition. I hope to have it available by the beginning of June.It is a twist on the Charitable Installment Bargain Sale and I hope having this option will be appealing to a lot of people who want to make the world a better place for a deserving group of people.I've been listening to clients over the last year and one half tell me what they liked and didn't like about the current foundation offering this product.The three most common hesitations were dealing with a new and untested foundation, not being able to choose to send a part of the donation to their favorite charity, and wondering if the large tax deduction would hold up under IRS scrutiny.Well, the new program I am helping to launch addresses all of those concerns and will help a cause almost every American will want to contribute to if it fits their overall objectives in selling their asset.I know this is a tease, but I am very pr...
Capital Gains Tax Changes Posted By : Nick Braun
2008-05-13 16:10:00 Our new Darling Chancellors first Pre-Budget Report, delivered on 9th October 2007, caused quite a stir in the UK property taxation world. Are you looking for some inside information on income tax refund? Here’s up-to-date information on Taxes and personal finance and also on Taxes.
Neal Boortz on the Capital Gains Tax
2008-05-11 01:28:00 Neal Boortz explains the Capital Gains Tax. Maybe Obama should listen. Click the Headline Link to Visit Copious Dissent and Read the Full Story.
Why Canada Needs Capital Gains Tax Deferrals on Real Estate
2008-05-06 15:21:00 Canadians are increasingly migrating to regions where new jobs are plentiful, and they must be able to move their assets with them. Households can move their furniture and their stocks and bonds, but not their real estate investments, without substantial tax consequences. Reinvestment in real property should be facilitated so that investors can reposition existing ...
Capital gains tax legislation changes see rise in land for sale
2008-04-04 09:00:00 The amount of land sold so far this year has increased sharply, as farmers rushed to beat changes to capital gains tax legislation.
By: FWi - All News
Rush of land sales to beat capital gains tax deadline
2008-04-02 18:00:00 The amount of land sold so far this year has increased sharply as farmers rushed to beat changes to capital gains tax legislation.
By: FWi - All News
Do The Capital Gains On Sale Of Residence Get Better Treatment Than Gains
2008-03-30 14:25:00 I have recently sold my Commercial property for 31.5 lakhs which was purchased in 1999-2000 for 5 lakhs.According to my CA our capital gains comes around 15 lakhs & we have to pay 20% as a Long term capital gain tax.I want to have clarity on following points.1:-Should I invest 15 lakhs in other property to save tax or I have to invest whole sales proceedings of 31.5 lakhs.2:-What is the amount I have to invest in Capital gain Accounts( Nationalised banks) 15lakhs or 31lakhs if I need time to finalise on the property.3:-In Income tax rules for Commercial & residential properties are same or they are treated differently? Vijay Jaywant Naik , MumbaiGood question.!Yes , income tax law provides better treatment for long term gains on residential property than the commercial property.While the long term capital gains(LTCG) tax rate for both types of gains are same i.e 20 % , the rule for exemption are different .What are the difference ?The exemption for LTCG on residential proper...
1031 Exchange: How To Defer Your Capital Gains Taxes
2008-03-28 17:01:00 What is a 1031 Exchange? For a detailed explanation you can check out this very thorough page at Wikipedia. (...)
Capital Gains Tax (CGT)
2008-03-27 20:11:00 The Chancellor has confirmed that there will be an 18% flat rate of CGT applying to amounts over the annual exempt amount (£9,600 for 2008/09) on disposals after 6 April 2008. The annual exempt amount for trustees will be £4,800 in 2008/09.
Capital Gains Avoidance
2008-03-19 15:55:00 I've had a rental for 25 years in Ca. I'd love to sell it even though it's a poor time to sell but the capital gains I'd have to pay are prohibitive. It's my understanding that the only way around it is to live in the house for 2 years then sell it. Otherwise one would have to reinvest in something within a short period of time for the same amount the property was sold for or less. Is that right? Any other way around it?I read another post regarding a "reduced exclusion" but our situation does not apply unfortunately.Thanks for your input.
Life Settlements and Capital Gains
2008-03-05 21:22:00 Do you meet the following criteria?*Age 65 or older*Have a Life Insurance Policy with a face amount of 250K or more*There has been a change in insurability since the policy was issued*Life expectancy of 15 years or lessIf so, a life settlement may be something to consider. A life settlement is the sale of a life insurance policy for more than the surrender value while living.Here are some circumstances that may lend themselves to a life settlement.*You have a policy that is underperforming and you can no longer afford the premiums to keep it in force.*You had the policy to protect a spouse who has passed away.*You have a key employee life policy and that employee no longer is in your employ.*You have the ability to replace this policy for a policy with the same death benefit and lower premiums.*The policy was to cover estate tax which is no longer an issue.*You are considering surrendering the policy or letting a convertible term policy lapse for any reason.Before you let a policy l...
Capital Gains
2008-02-29 16:01:00 Politicians don't scare me. The reality of our democracy is that very few of the real fringe ideas ever come close to legislation. This is why Dennis Kucinich will never do anything on a national scale. He's a kook. But, Wednesday, for the first time in a few years, I heard something from the mouth of a mainstream candidate that actually frightened me. I'm not sure of the location or even the question that prompted her response but Mrs. Clinton hinted at her intent to raise capital gains tax rates once in the White House. I contend that this is a terrible, terrible, terrible idea but even her shrill voice could sell it as "making the rich pay their fair share in taxes".Capital gains are gains earned on the sale of capital assets. For most of us, this includes our homes and any stocks we own. Currently, 250k of gain is excluded from capital gains tax on the sale of your home if you've lived in the house for 2 years. So, we are left with capital gains being the profits made from b...
Markets slip on tax hike on short-term capital gains
2008-02-29 10:42:00 The Indian stock market reacted negatively to a hike declared on taxes on short-term capital gains to 15 percent from 10 percent. India’s benchmark index tumbled over 350 points after the announcement by Finance Minister P. Chidambaram during his 2008-09 budget presentation Friday.
By: Latest News
How To Use Capital Gains Account Scheme To Save Tax?
2008-02-26 16:24:00 What Is Capital Gains Account Scheme? If you get long term capital gains , Income Tax Act provides certain exemptions under section 54,54B,54D,54F and 54G .In short these exemption are for capital gains earned on account of Sale of a residential house (Sec 54) Sale of agricultural land (Sec. 54B) Compulsory acquisition of land & building (Sec. 54D) Sale of any long term capital asset (Sec. 54F) Transfer of assets in case of shifting of industrial undertaking. (Sec 54G) In all these cases, an assessee is given exemption if the sale proceeds are utilised for some specific purpose. But it happens that the money can not be utilised within short span of time. In that case, there is provision that the money is deposited in designated bank in a special kind of account called Capital Gains Account Scheme and utilise the money for that specific purpose within extend period given in those section. Therefore , all those assesse...
Land auctions increase as farmers try to beat capital gains tax deadline
2008-02-20 11:00:00 Auctioneers are set for a busy few weeks as farmers rush to beat the 5 April capital gains tax deadline.
By: FWi - All News
Knowing The Rules Will Save You Money-The Truth About Capital Gains and Los
2008-02-15 07:39:00 The average American taxpayer lets the chips fall where they may when it comes to reporting capital gains and losses on their tax returns. So that we all understand, let’s review the rules for capital gain and loss netting. Capital gains and losses are divided into two types; long-term and short-term. A long-term transaction is one that involves the holding of a given asset for more than one year
Capital Gains Tax Laws Explained
2008-02-15 07:22:00 Would you like to know what is considered capital gains by the IRS? Would you like to know how much it might cost you?Capital gains is what the IRS says is your profit when you sell something that is defined as a capital asset. Real estate, mutual fund shares, stocks, and bonds are all considered capital assets. If you inherited a home or real estate you might be subject to the capital gains
> CBDT wants capital gains tax for all FIIs
2008-02-13 19:40:00 The Central Board of Direct Taxes (CBDT) has proposed several measures that are expected to have far-reaching implications for the capital market. In its pre-Budget proposals to the finance ministry, CBDT has sought an amendment to Section 115 AD of the Income Tax Act so that all foreign institutional investors (FIIs) ...
Be prepared for capital gains tax change
2008-02-13 16:26:00 Landowners have just a few months to prepare for the Chancellor's "streamlining" of capital gains tax legislation. Be prepared with our detailed guide
By: FWi - All News
Not all CPAs and Attorneys Are Knowledgeable on Capital Gains Tax Issues
2008-02-06 06:19:00 A good CPA is worth their weight in gold. A cracker jack attorney can save your bacon when it comes to upholding your legal rights and due justice. What happens when you ask them for assistance with something like your capital gains tax problem when you're ready to sell your highly appreciated asset?Chances are, you may get incorrect or incomplete advice which may result in the unnecessary loss
Chancellor Alistair Darling tries to soften blow of capital gains tax refor
2008-01-25 12:00:00 Chancellor Alistair Darling confirmed yesterday he still plans to scrap valuable tax reliefs on business assets like farmland, and introduce a new flat rate of capital gains tax.
By: FWi - All News
Tax Debt Help - Guide for Capital Gains
2008-01-22 19:31:00 Capital gains are the profits earned on an investment in stocks, bonds, mutual funds, real estate, or collectibles. The following is a brief description of the types of capital gains that are reportable on your tax return. Capital Gains Tax: Essential Tax Tips for Capital Gains & Losses A capital gain is the difference between what ...
Short-Term versus Long-Term Capital Gains
2008-01-14 00:00:00 Short-Term versus Long-Term Capital Gains
Capital Gains Revision for Surviving Spouse
2008-01-06 23:52:00 $500,000 exclusion continues 2 years after Spouse's DeathCongress passed its final tax bill of the year with regard to capital gains to give a break to surviving spouses. Congress gave the surviving spouse 2 years from death before she or he sells, loses the $500,000 exclusion benefit. Many taxpayers felt rushed into selling in the year of the spouse’s death to get the full $500,000 marriage exclusion. After the death, the spouse will get the full exclusion for up to two years, so Congress does have a heart!Click here to view a video on this tax bill.Click here to search all listings in Michigan with pictures and tours - FREE! Kathy Toth and Teamwww.KathyToth.comReal Estate One
By: Ann Arbor Talks
Change in Capital Gains Posted By : Kevin Bilberry
2008-01-05 04:01:00 If you own a property which you are planning to sell, be sure to consult a tax advisor or get informed about tax law before doing so. Many real estate agents also know the subtleties of property selling and taxation. Several small points can make the difference between having to pay capital gains tax or ...
Capital Gains Rates Revisited
2007-11-28 04:52:00 SOME VERY USEFUL INFORMATIONIn this edition of the Real Estate Revolution, we will share some useful information that is to short to warrant a single newsletter.CAPITAL GAINS RATES REVISITEDExactly what Capital Gains rate applies to the sale of your property depends on several things, including when you bought the property, when you sold it, your overall income level and sometimes what tax-code changes are made in the meantime.Currently, capital gains may be taxed at 5 percent, 15 percent and 25 percent or a combination of rates (These lower rates are scheduled to end on Dec. 31, 2010). These tax levels are known as long-term capital gains and apply to property that you hold for not less than 366 days (more than one year). The long-term capital gain tax is, generally, much lower than what you pay on your regular income.In fact, it is a taxpayer's income level that generally determines which capital gains rate is owed. If your profit pushes you into a higher bracket, you could possi...
Capital Gains Deferral in a Business Sale
2007-11-25 00:00:00 The sale of business is a challenging and difficult transaction with several complicated aspects. Whether it’s the complete sale of a business or simply the sale of a partial ownership interest in a company, one of the most troubling issues created by this disposition is the manner in which capital gains and other taxes are ...
Capital gains tax on securities draws fire
2007-11-22 12:15:00 The National Assembly on Tuesday approved the Law on Personal Income Tax, which will tax capital gains on securities trading at 20%; a compromise on the 25-per-cent rate originally included in the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Business Sellers - Beware of Potential Changes in the Capital Gains Tax Pos
2007-11-21 03:36:00 If You are a business owner thinking of selling in the next few years, pay particular attention to the talk on capital hill about where they plan on getting the $800 Billion that will be lost by the repeal of the Alternative Minimum Tax. I think it will come right out of your pocket. Are you looking for some inside information on income tax refund? Here’s up-to-date information on Taxes and personal finance and also on Taxes.
Farm owners ignore capital gains tax changes at their peril
2007-11-20 18:10:00 All farmers, even those not planning to sell their farms, must consider the implications of the government's proposed changes to capital gains tax rules,...
By: FWi - All News
Business Sellers - Beware of Potential Changes in the Capital Gains Tax
2007-11-20 00:00:00 Thinking of selling your business? If you have planned it correctly, most of your transaction proceeds should be long term capital gains. Given the current political climate and the upcoming change in the White House, capital gains taxes will come under attack. If you are a business owner and are thinking of selling your business ...
Tax Relief Bill, Cosponsor US Rep. Ron Paul
2007-11-19 07:00:00 Washington, DC - Congressman Ron Paul has signed on as co-sponsor to a long overdue piece of legislation that would increase the capital gains exemption amount for real estate transactions. Paul said, ?The investment in a home is often the largest investment average Americans will ever make. They rely on appreciation and equity in that home for financial security throughout their lives. It is morally wrong and economically unwise to take massive amounts of that investment out of the economy in capital gains taxes." HR 4132 is necessary because housing prices are up 104% since the $250,000 per single/$500,000 per couple exemption was established in 1997, and this would be the first adjustment. The new exemption amount would be $500,000 in gains for a single tax return filer, $1,000,000 for joint filers. read more
Are Capital Gains On Sale Of ESOP Shares Listed Abroad Exempt?
2007-11-14 16:42:00 I am an Indian resident, and had some ESOPs which I had exercised and paid in January 2004. These were paid in USD and money on sale will also come in USD, the company went public in October 2006. What is the capital gains tax rate that will apply to me on sale of shares (listed on NYSE), if I sell after October 2007 or before October 2007? Virender Puri Shares whether quoted or unquoted becomes long term asset after being held for more than one year. You exercised your option in January 2004, therefore after January 2005, shares became long term asset in your hand. Its sale will give rise to long term gains. Since you are resident and the shares are listed outside India , the tax rate applied in this case will be 20% as per section 112 of the I T Act . The NIL tax rate for long term gains is for shares which are sold through stock exchanges registered in India.However, you can claim indexation on the cost of the share. For more on indexation , read here. For computation of capi...
Capital Gains
2007-11-13 21:58:00 How bad is the capital gains hit on a quick buy sell and what is the best way to get past it, besides making more than 28%. Any ideas?
Moveon.org Misinforms Their Base Again: Distorts the Capital Gains Tax
2007-11-09 20:47:00 I received another Moveon.org email this week. As usual, the email contained lies, damned lies, and no statistics to back up its assertions. It focused on the Alternative Minimum Tax and the Capital Gains Tax. Because the Alternative Minimum Tax, a tax created by liberal Democrats, is now harming the middleclass, the Democrats want to repeal it. Go figure! But, of course the Democrats cannot... Click the Headline Link to Visit Copious Dissent and Read the Full Story.
To Income Trust or not to Income Trust: Looking for Capital Gains from Inco
2007-11-09 18:20:00 If you have been invested in the market recently then you have experience the major shock waves of highs and lows. Everyone is looking for the next big growth story, but what about a nice Capital... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Andorra Tax Haven Introduces Capital Gains Tax Posted By : Roger Munns
2007-10-29 19:22:00 In a surprise move, European tax haven Andorra has introduced Capital Gains Tax. An Andorra travel guide suggests that the move will hardly affect new residents, and that Andorra remains the best value for money tax haven in Europe both for property and residency. Are you looking for some inside information on income tax refund? Here’s up-to-date information on Taxes and personal finance and also on Taxes.
Federal Capital Gains Tax Rate Update - Raising the rate?
2007-10-22 22:52:00 To most people in the financial and tax worlds the impending federal capital gains tax rate hike in 2011 is no new news. This has been scheduled since the 2003 capital gains tax rate changes and should really be no surprise to most people. However, with this federal capital gains tax rate increase (set to increase to ...
Capital Gains Tax Rates - State by State
2007-10-18 14:35:00 One of the “unknowns” in the real estate investing world is the topic of caital gains… in particular… the capital gains tax rates that you and are are subject to. Truthfully… I’m not sure why I didn’t write a post about this earlier… afterall, I come from the world of tax planning and am the VP ...
Capital Gains Tax changes - good for property investors, bad for business o
2007-10-17 22:44:00 Well, the dust has (almost) settled, and it’s time for a quick review of what Chancellor Darling’s pre-budget report actually means for us. I should stress at the outset that if you hold business or property assets, and are thinking about selling them, then you should go out and get professional advice from a tax advisor ...
Capital Gains Tax Exemption
2007-10-15 19:55:00 If you are thinking about selling your house but are concerned about the capital gains tax you may have to pay on profit made from sale then there is some good news for you. You might not have to pay any tax on the profit made if certain conditions are fulfilled. In the following sections we ...
By: Finance News Pro
Pre-budget report: Chancellor's raid on capital gains tax
2007-10-09 19:41:00 Business asset taper relief scrapped and inheritance tax threshold doubled in Darling's first pre-budget report.
By: FWi - All News
2007/08 Australian Tax Brackets and Capital Gains Tax
2007-10-07 16:16:00 The 2007/8 Australian tax brackets are as follows: The tax brackets do not include the 1.5% Medicare tax levyEven though taxes have dropped in Australia, they are still relatively high from a worldwide basis. Therefore when investing it is particularly important to consider tax factors. The main one you will be impacted from while investing is Capital Gains Tax.Capital gains tax (CGT) is the tax you pay on any capital gain you make and include on your annual income tax return. There is no separate tax on capital gains, it is merely a component of your income tax. You are taxed on your net capital gain at your marginal tax rate (per the table above). The only caveat is that if you hold an investment for than 1 year, you only pay CGT on 50% of the gains.Your net capital gain is = your total capital gains for the year MINUS your total capital losses (including any net capital losses from previous years)I will discuss some CGT minimization strategies in the next few weeks -For more deta...
2007/08 Australian Tax Brackets and Capital Gains Tax
2007-10-07 16:16:00 The 2007/8 Australian tax brackets are as follows: The tax brackets do not include the 1.5% Medicare tax levyEven though taxes have dropped in Australia, they are still relatively high from a worldwide basis. Therefore when investing it is particularly important to consider tax factors. The main one you will be impacted from while investing is Capital Gains Tax.Capital gains tax (CGT) is the tax you pay on any capital gain you make and include on your annual income tax return. There is no separate tax on capital gains, it is merely a component of your income tax. You are taxed on your net capital gain at your marginal tax rate (per the table above). The only caveat is that if you hold an investment for than 1 year, you only pay CGT on 50% of the gains.Your net capital gain is = your total capital gains for the year MINUS your total capital losses (including any net capital losses from previous years)I will discuss some CGT minimization strategies in the next few weeks -For more deta...
Tax Free Capital Gains on Invesment Real Estate Sales.
2007-10-02 18:35:00 Welcome to HomeToolKit, your source (tool kit) for money making ideas whether you are a buyer, owner or seller of a home. Found here are tips for neighborhoods, location, financing, tax angles, home improvement and much more. As a retired CPA and current Realtor, I always keep an eye out for changes in tax laws that may benefit my clients or help them avoid pain. If you are considering selling some real property, but cringe at having to share your profit with the Federal Government, here's an opportunity to AVOID Capital Gains Tax on those profits. This is a Quirk in the tax law enacted in 2003 that has an exemption on Capital Gains Tax, but only for the year 2008. Obviously, this provision was inserted for the benefit of some group of wealthy individuals, and most likely was instigated by a paid lobbyist on K-Street. As you may know, most laws are NOT written by our Congressmen, but by lobbyist for special interests. Here is an excerpt from; Jobs & Growth Tax Relief Rec...
Is Capital Gains Earned Out Side India Taxable in India?
2007-08-15 20:01:00 One of my relatives has returned to India about 6 years back after residing in USA for about 15 years. His Indian Income comprises of Interest on Bank Deposits and on which he is paying Indian... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Federal Capital Gains Tax Rates - Current to 2007
2007-08-13 22:15:00 Many people are very surprised to find out that the 15% Federal capital gains tax rate does NOT apply for all transactions. Yes, there is a 15% Federal capital gains tax rate; however, it does NOT apply for every one. To help you see the various Federal capital gains tax rates we’ve put together a quick table ...
The Basics: How to calculate capital gains tax
2007-08-13 20:12:00 Some of our articles will focus on more in-depth and advanced topics, while others will simply get the basics out of the way. One of the basics that all professional advisors and sellers should know how to do is calculate the capital gains and the capital gains tax that is due when selling a highly appreciated ...
Capital Gains Tax reality, Personal VS. Corporation, can you afford not to
2007-08-10 23:50:00 HERE IS A LOOK AT THE TAXES YOU WOULD BE OBLIGED TO PAY IF YOU WERE SELLING PROPERTY IN YOUR PERSONAL NAMEBy selling real estate titled in your name or the name of a ?pass-through? entity (LLC or ?S?-Corp) you could pay as much as 60% of the income you receive from the sale in taxes. Those taxes include but are not limited to capital gains taxes, self-employment taxes, Alternative Minimum Tax as well as state and federal income taxes. Adding insult to injury, when you sell real estate titled in your own name or the name of a ?pass-through? entity, many of your ?real estate business expenses? will not be deductible when you file your 1040 tax return.INCOME TAXES REPORTED ON YOUR 1040 TAX FORMThe tax effect of selling property as an individual or the name of a ?pass-through? entity is that profits made from the sale of real estate are added to the income you report on your 1040 tax return. On the other hand, any losses from the operation of the property are deducted from your 1040 ... |
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