Friday, December 11, 2009

Sell your stock and pay zero taxes

For tax year 2009 the rate on capital gains is 0% on capital gains if you find yourself in the 10% or 15% tax bracket. This will allow you sell assets for a profit tax-free. Your 2009 taxable income – gross income minus exemptions and deductions – can't exceed $33,950 for individuals or $67,900 for married couples filing jointly.
If your taxable income is above these amounts, your capital gains tax rate is 15%. The tax rate is figured after including the capital gains in your income. The tax rate on capital gains and the tax rate on other ordinary income is figured separately.

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