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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%
What else can I help you with?
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 is total capital gains in the US?
Total capital gains in the U.S. refer to the profit earned from the sale of assets or investments, such as stocks, real estate, and other properties, that have increased in value. These gains can be classified as short-term (for assets held for one year or less) or long-term (for assets held for more than a year), with different tax rates applied to each. The total capital gains can fluctuate annually based on market conditions and individual investment activities, and they are reported on tax returns, influencing overall tax liabilities. As of recent years, capital gains have become a significant focus in discussions about tax policy and economic inequality.
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.
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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.
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.
Ask us anythingA.Sales tax 5 percent charged on profits from selling stocks B.Excise tax 9 percent charged on all purchases of non-necessities C.Capital gains tax 1 tax charged on each gallon of ga?
A sales tax typically applies to the sale of goods and services, so a 5 percent sales tax on profits from selling stocks would be unusual, as profits from stock sales are generally subject to capital gains tax instead. Excise taxes are often levied on specific goods, like non-necessities, at a rate of 9 percent in your example. Capital gains tax, however, is usually based on the profit made from the sale of an asset, such as stocks or real estate, rather than a tax per gallon of gas. It’s essential to differentiate between these types of taxes, as they have different applications and rates.
Ask us of the following accurately describes a capital gain?
A capital gain refers to the profit realized from the sale of an asset, such as stocks, real estate, or other investments, when the selling price exceeds the purchase price. It is typically classified as either short-term or long-term, depending on how long the asset was held before sale. Short-term capital gains are usually taxed at ordinary income tax rates, while long-term gains may benefit from lower tax rates.
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.
