Important Tax Law Change

With the end of the year approaching, there will be several important changes in the tax code for 2008. For us stock addicts, the most intriguing is that the long-term capital gains rate for folks in the 10% and 15% tax brackets will fall to zero.
That’s right…a Blutarsky. Zero point zero.
A goose egg. Zippo. Naught. Zilch. The Null Set. The Void Coefficient. The Hobbesian State of Nature. The 2007 Miami Dolphins.
As the law currently stands, the rate lasts through 2010. For 2008, the 15% rate maxes out at $32,550 for singles and $65,100 for married folks.
That’s adjusted gross income, so if you find yourself just outside those numbers, it could be worth you while to do some advanced planning.
Please consult a professional advisor (as in, not me) for more details.

Posted by on December 12th, 2007 at 6:52 am


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