capital gains

How You Can Get a 14% Effective Tax Rate Like Mitt Romney and Other Super-Rich Americans

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GOP presidential candidate Mitt Romney and his wife paid a 14% effective income tax rate in 2010 on nearly $22 million of income. Given the marginal federal income tax rate for anyone making over $35,350 (single) or $70,700 (married) is higher than 15%, it is pretty clear that the Romney’s are paying way below what [...]

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2011 and 2012 Capital Gains Tax Rates – Short and Long Term

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When you sell a capital asset like a stock or a home you own, the difference between the amount you sell it for and what you paid for it (cost basis) is classified as a capital gain or a capital loss. Capital gains and losses are further classified as long-term or short-term, depending on how [...]

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Taxes and Gains I Can Exclude When Selling My Home

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Following my recent post on Tips for Selling your Home, I received a reader email asking me to clarify the tax consequences of selling their home and what the potential liability/capital gain implications would be. Based on what the IRS says, here are the key tax facts to keep in mind around figuring your gains. [...]

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2011 and 2012 Capital Gains and Losses : Tax Facts and Figures

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[Updated with 2011-2012 data] Here are some useful facts & figures to be aware of, from various IRS publications, when it comes to capital gains and losses. Also included are the latest CGT deduction and tax rates.  Almost everything you own and use for personal or investment purposes is a capital asset. Examples are your [...]

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