Capital gains is defined as income made from the sale of assets that were purchased at a price lower than that of the sale. Capital gains tax would be the taxes the government charges you on that income. Most capital gains taxes are the result of the sale of stocks and bonds, commodities, and real estate. A very good reference for this can be found on Wikipedia at http://en.wikipedia.org/wiki/Capital_gains_tax.
To find out exactly what is owed in capital gains tax, you should utilize the services of a certified tax preparer. Alternatively, software programs such as TurboTax can also be used for this purpose.
direct tax
The capital gains tax rate is the tax rate applied to the profit made from the sale of an asset, such as stocks, bonds, or real estate. The rate can vary depending on the type of asset and how long it was held before being sold. In the United States, the capital gains tax rate can range from 0% to 20%, with different rates for short-term gains (assets held for one year or less) and long-term gains (assets held for more than one year).
If you sell your home and buy another, you may or may not have to pay capital gains tax based on what how much equity you have, what law is in your state about capital gains tax, and also your economic situation of how you spend your funds.
It is possible to make profits by buying shares, property etc. at a low price and then selling at a higher price. Profits made in this way are called capital gains and are subject to tax by the government. Profits mad ein this wayare called capital gains and are subjectto tax by the government. Profits made on anindividual's home, private cars and assurance policies are not subject to capital gains tax. Hope this was helpful! -Pinkmouse
Capital gain taxes are based in large part on your ordinary tax rate.... * Ordinary tax rate 10%, long term capital gains tax 0%, short term capital gains tax 10% * Ordinary tax rate 15%, long term capital gains tax 0%, short term capital gains tax 15% * Ordinary tax rate 25%, long term capital gains tax 15%, short term capital gains tax 25% * Ordinary tax rate 28%, long term capital gains tax 15%, short term capital gains tax 28% * Ordinary tax rate 33%, long term capital gains tax 15%, short term capital gains tax 33% * Ordinary tax rate 35%, long term capital gains tax 15%, short term capital gains tax 35%
A capital gains tax is applied to the sale of financial assets. The capital gains tax in Ohio is 15 percent.
To find out exactly what is owed in capital gains tax, you should utilize the services of a certified tax preparer. Alternatively, software programs such as TurboTax can also be used for this purpose.
The capital gains tax rates are determined by the type of investment asset and the holding period of the asset. In additional to the federal capital gains tax rates, your capital gains will also be subject to state income taxes. Many states do not have separate capital gains tax rates. Instead, most states will tax your capital gains as ordinary income subject to the state income taxes rates.
The capital gains tax rate is the tax rate applied to the profit made from the sale of an asset, such as stocks, bonds, or real estate. The rate can vary depending on the type of asset and how long it was held before being sold. In the United States, the capital gains tax rate can range from 0% to 20%, with different rates for short-term gains (assets held for one year or less) and long-term gains (assets held for more than one year).
Higher the capital gains tax, lesser would be incentive for investment.
No. You will not pay income tax in addition to capital gains tax if I understand you correctly. However, capital gains tax for an individual is reported and paid on your 1040 income tax return. The only difference is that the rate for capital gains taxes is lower than the regular income tax levels.
A capital gains tax is a federal tax that is paid by both corporations and individuals on the net total of their capital gains for the year. In the state of Georgia that rate is 6.0 percent.
direct tax
A capital gains tax is a tax that is paid on the sale of an asset that is non-inventory. In most countries the tax is not separate but part of the income tax system.
A. H. Madani has written: 'Capital gains tax' -- subject(s): Capital gains tax, Law and legislation
Trader Tax is the name of a tax software company that specializes in doing capital gains software. You can find them on their website, and you can download the software from there.