What is Capital Gains Tax?

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	What is Capital Gains Tax?

teresancmc2003

7-5-2009 7:02 PM

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what, capital, gains, tax

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/984d714d-0c93-4cc4-af7f-587316af2b51/E78917EB-D6C1-4CC8-A461-4CC05844FBA2/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://hubpages.com/hub/What-is-Capital-Gains-Tax" href="http://hubpages.com/hub/What-is-Capital-Gains-Tax" style="font-size: 11px;">hubpages.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://hubpages.com/hub/What-is-Capital-Gains-Tax"><P>If you made a profit on the sale of your long term capital asset then the tax due will be much lower than on your short term capital gains. Currently if you are in the 10-15% marginal tax bracket then you will have a tax rate of 0%. This is going to expire in the next couple of years and return to the previous tax rate of about 5%. If you are in the 25% or above marginal tax bracket then you will be taxed at the 15% rate on your capital gains.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://hubpages.com/hub/What-is-Capital-Gains-Tax"><P>So there are many things to consider if you are planning on selling your capital assets. You may want to hold on to them a little longer so you don’t end up paying a huge amount of capital gains tax. If you sold an asset and it created a loss then you can use this loss as a deduction against your other capital gains.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://hubpages.com/hub/What-is-Capital-Gains-Tax"><P>To learn more and calculate the amount of your capital gains tax, visit <STRONG><A href="http://harborfi.typepad.com/tax/turbotax-free-tax-return-.html"><U>TurboTax Online</U></A></STRONG>.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/E78917EB-D6C1-4CC8-A461-4CC05844FBA2/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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