Zero Percent Capital Gains Tax: How to Take Advantage

   

Beginning in 2008, the federal tax rate on long-term capital gains and dividends dropped to zero percent for people in the lowest two tax brackets. Who can take advantage? Potential beneficiaries include recent college graduates, retirees, new business owners who have modest incomes this year and others. Parents or grandparents might want to give appreciated securities to loved ones who qualify.

 

Want more info?  This will be the lead topic of our firm's free eNewsletter this Thursday. You can sign up to receive it here.

Important Tax Changes for 2008

 

We've put together some important tax figures for the upcoming year, including the Social Security wage base, qualified retirement plan and IRA contribution limits, driving deductions, allowable business write-off amounts and more. We will be sending this information out in our free eNewsletter this Thursday, formatted as a handy chart to keep and assist you in planning for 2008. You can sign up for our newsletter here.