Tax rates on long-term capital gains and qualified dividends do not change. Currently, your capital gains and dividends rate depends on your tax bracket. But with the bracket changes, Congress decided to set income thresholds instead.The 0% rate will continue to apply for taxpayers with taxable income under $38,600 on single-filed returns and $77,200 on […]
Capital Gains, Dividends, exemptions, Minimum tax, Obamacare update, repeal, returns, tax law changes
Payments for the sale of franchise contracts are tax-favored, as shown here. They can qualify for capital gains treatment. A business sold all of its assets to a third party, including waste management contracts with three municipalities under which it had the exclusive right to collect and dispose of trash in the cities. The seller […]
Capital Gains, franchise sale, IRS, Northside Tax Service, Revenue Service, Tallahassee Tax Service, Tally Tax Man, tally taxman, TallyTaxMan, Tax Court
Use the 0% rate on long-term gains to your benefit. If your taxable income without your long-term gains is in the 10% or 15% tax bracket, profits on the sales of assets owned over a year are tax-free until the gains push you into the 25% bracket. That bracket starts at $74,900 of taxable income […]
Capital Gains, Income Tax Planning, Income Tax Preparation, Tallahassee Tax Service, TallyTaxManTalk of a consumption tax is all the rage now. Several states are thinking of scraping their income tax regimes and replacing them with greater sales taxes. Others are considering reducing their income tax rates, and expanding the sales tax base to make up for lost revenue. A federal consumption tax is also on the […]
2013, Capital Gains, Consumption Tax, fair tax, federal consumption, FICA tax, H.R. 25, income tax, Income Tax Planning, Income Tax Preparation, medicare trust funds, Rep. Rob Woodall (R-GA), Social Security, Tallahassee Tax Service, TallyTaxManStart with the 3.8% Medicare Surtax. It applied to unearned income of single filers with modified adjusted gross income above $200,000 and of couples over $250,000. Marrieds filing separately get a $125,000 threshold. Modified AGI is AGI plus any tax free foreign earned income. The surtax is levied on the on the smaller of the […]
3.8%, 401k, AGI, Annuities, Capital Gains, deferred-pay plans, Dividends, excess, filers net investement, foreign earned income, Income Tax Planning, Income Tax Preparation, interest, IRS, Medicare, modified AGI, payments of substitute interest and dividends by brokers, pension plans, royalties and passive rental income, single filers, Surtax, Tallahassee Tax Service, TallyTaxMan, tax-free interestThru 2012, these are the long term capital gains tax rates: For taxpayers in the 10 or 15% ordinary tax bracket: Long Term Capital gains rates are 0% For taxpayers in the 25% or higher tax bracket: Long Term Capital gains rates are 15%
Capital Gains, Income Tax Planning, Income Tax Preparation, Small Business Tax