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Capital gain taxes are based in large part on your ordinary tax rate....
* Ordinary tax rate 10%, long term capital gains tax 0%, short term capital gains tax 10%
* Ordinary tax rate 15%, long term capital gains tax 0%, short term capital gains tax 15%
* Ordinary tax rate 25%, long term capital gains tax 15%, short term capital gains tax 25%
* Ordinary tax rate 28%, long term capital gains tax 15%, short term capital gains tax 28%
* Ordinary tax rate 33%, long term capital gains tax 15%, short term capital gains tax 33%
* Ordinary tax rate 35%, long term capital gains tax 15%, short term capital gains tax 35%
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∙ 16y ago
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What is your favorite US city with no capital gains tax?
Very,very few cities have a capital gains tax...or any income tax at all. Those that do would have a very small percentage tax compared to either Federal or State ones.
When does the preferential rates on long term capital gains expire in the US?
At this time at the end of the 2010 tax year the capital gains tax rate will be changing for the tax year 2011 unless our elected officials change things before the end of the year 2010.
What are capital gains taxes used for?
General funds for the US Government, just like income tax money.
What will the rates of long term capital gains be in the US after 2010?
At this time no one know what our elected officials will come up with before the end of the year 2010. For the 2011 tax year you can probably expect to see some changes in the capital gains tax rate but to what amounts at this time? Who knows?
What are the Canadian capital gains tax laws for a US citizen relocating to Canada on a work visa that will be selling US property?
You need to check with a lawyer and/or accountant. In general, though, a capital gains tax can be imposed by only one of the jurisdictions. If you're talking a fairly high amount, it's well worth getting advice ahead of any decision to sell the US property. Although you can't avoid payment, you do have a legal right to minimize as much as possible.
How does the US government tax savings account interest rates?
It is taxed as income, just like salary. Pretty bad incentive for people to save. It is way higher than capital gains and dividends.
If you had your deceased parents stock switched into the name of the estate do you still have to pay capital gain or loss on it how do you determine that when you dont know how much they bought it for?
This is actually one of the biggest holes in the US tax law. The estate gets the stock at the value at the time of the transfer to the estate's name. The Capital gains are only on what occurred once it was transferred.
What is the statute of limitation on capital gains tax?
Same as the statute of limitations on any other income tax. For example, if it is a U.S. federal income tax, and a return is required but not filed, then the statute of limitations doesn't start until the return is filed, and then runs for three years, assuming the taxpayer does not leave the US during that time.
How much does the US government tax savings account interest?
Interest from savings accounts is ordinary income. It is taxed at the same rate as wages, for example. (Social Security and Medicare taxes do not apply to interest.) The rate is anywhere from 10% to 35% depending on your overall taxable income and your filing status. Interest from savings accounts is not capital gains.
What is the total combined annual income of all US citizens including salaries bonuses wages tips inheritance interest capital gains and every other type of income?
According to the Tax Foundation, a "non-profit, non-partisan" organization, the total adjusted gross income reported on Federal income tax returns for 2005 was $7.5 trillion ($7,500,000,000,000).
In the US do pay capital gain tax on money brought in from another country?
Just fro bringing it in, no.
What was the total household income of the US in 2010?
Someone wrote, "google - 'us gross domestic product.'" This is wrong. Total household income and GDP aren't even close to the same thing. I am searching for the answer to a similar question. My question is, "What is the total taxable income in the US, including capital gains." I want to know what Congress is looking at when it decides tax margins, rates, etc.
