Tuesday, 19 June 2012
Tuesday, 24 January 2012
Capital Gains Taxes Are Going Up
Capital Gains Taxes Are Going Up - The top tax rate on long-term capital gains is currently 15%. That’s why Mitt Romney is spending so much time talking about his tax returns.
That revelation has set off a familiar debate about whether that low rate is appropriate. Often overlooked in these discussions, however, is the fact that the days of the 15% tax rate are numbered. As of this posting, it has only 342 left.
On January 1, 2013, capital gains taxes are scheduled to go up sharply:
First, the 2001 and 2003 tax cuts are scheduled to expire. If that happens, the regular top rate on capital gains will rise to 20%. In addition, an obscure provision of the tax code, the limitation on itemized deductions, will return in full force. That provision, known as Pease, increases effective tax rates on high-income taxpayers by reducing the value of their itemized deductions. On net, it will add another 1.2 percentage points to the effective capital gains tax rate for high-income taxpayers.
And that’s not all. The health reform legislation enacted in 2010 imposed a new tax on the net investment income of high-income taxpayers, including capital gains. That adds another 3.8 percentage points to the tax rate.
Put it all together, and the top tax rate on capital gains is scheduled to increase from 15% today to 25% on January 1. That’s a big jump. If taxpayers really believe this will happen, expect a torrent of asset selling in November and December as wealthy taxpayers take final advantage of the lower rate.
Of course, the tax cuts might get extended for all Americans, including high-income taxpayers. That’s what happened in 2010. In that case, the increase in the capital gains rate will be smaller. Because of the health reform tax, the top capital gains tax rate will increase from 15% to 18.8%. That’s still a notable increase, but would likely set off much less tax-oriented selling this year.
The only way that the top capital gains tax rate remains at 15% will be if the tax cuts are extended for high-income taxpayers and the new health reform tax gets repealed. That’s a key distinction in the election: President Barack Obama opposes those steps, while the GOP presidential candidates favor them (and some candidates would cut the capital gains tax rate even further).
That revelation has set off a familiar debate about whether that low rate is appropriate. Often overlooked in these discussions, however, is the fact that the days of the 15% tax rate are numbered. As of this posting, it has only 342 left.
On January 1, 2013, capital gains taxes are scheduled to go up sharply:
First, the 2001 and 2003 tax cuts are scheduled to expire. If that happens, the regular top rate on capital gains will rise to 20%. In addition, an obscure provision of the tax code, the limitation on itemized deductions, will return in full force. That provision, known as Pease, increases effective tax rates on high-income taxpayers by reducing the value of their itemized deductions. On net, it will add another 1.2 percentage points to the effective capital gains tax rate for high-income taxpayers.
And that’s not all. The health reform legislation enacted in 2010 imposed a new tax on the net investment income of high-income taxpayers, including capital gains. That adds another 3.8 percentage points to the tax rate.
Put it all together, and the top tax rate on capital gains is scheduled to increase from 15% today to 25% on January 1. That’s a big jump. If taxpayers really believe this will happen, expect a torrent of asset selling in November and December as wealthy taxpayers take final advantage of the lower rate.
Of course, the tax cuts might get extended for all Americans, including high-income taxpayers. That’s what happened in 2010. In that case, the increase in the capital gains rate will be smaller. Because of the health reform tax, the top capital gains tax rate will increase from 15% to 18.8%. That’s still a notable increase, but would likely set off much less tax-oriented selling this year.
The only way that the top capital gains tax rate remains at 15% will be if the tax cuts are extended for high-income taxpayers and the new health reform tax gets repealed. That’s a key distinction in the election: President Barack Obama opposes those steps, while the GOP presidential candidates favor them (and some candidates would cut the capital gains tax rate even further).
Wednesday, 18 January 2012
Happy Endings Season 2 Episode 12
Happy Endings Season 2 Episode 12 - Makin' Changes!, Jane convinces Penny to s changing herself for every guy she dates, and instead to change the guy to suit her needs. Penny's first experiment is Jeff, a slacker who is 30 going on 20. Meanwhile, when Brad overhears Jane bragging to Penny about how she completely made him over after they met, he rebels, and starts walking, talking and dressing like his college-era self. And Alex and Max stage an "in-T-vention" to s Dave from his obsession with v-necked T-shirts. Previously on Happy Endings Season 2 Episode 11 "Meet the Parrots", Dave's father, "Big" Dave, comes to town to introduce his new girlfriend, who shockingly happens to be Penny's mother, Dana. Penny couldn't be more thrilled that her thrice divorced mother has a new man in her life, but Dave on the other hand reacts childishly to the news. Meanwhile Alex, who is feeling lonely at the shop, decides to adopt an adorable parrot that turns out to be not so charming, spewing nons racist and homophobic rhetoric. And Alex enlists Brad and Max's help, as she is convinced the Chinese restaurant next door is a front for a brothel.
Episode Synopsis: Jane convinces Penny to stop changing herself for every guy she dates, and instead to change the guy to suit her needs. Penny’s first experiment is Jeff (guest star Ryan Hansen), a slacker who is 30 going on 20. Meanwhile, when Brad overhears Jane bragging to Penny about how she completely made him over after they met, he rebels, and starts walking, talking and dressing like his college-era self. And Alex and Max stage an “in-T-vention” to stop Dave from his obsession with v-necked T-shirts, on “Happy Endings,” WEDNESDAY, JANUARY 18 (9:31-10:00 p.m., ET) on the ABC Television Network.
CSI Season 12 Episode 11
CSI Season 12 Episode 11 - Ms. Willows Regrets, Catherine's friend Laura's mogul husband Mark has a lot to hide behind his successful international corporation, and he's hired a crack team of assassins to carry out the murders of anyone who might be aware of what he's doing, and that includes Laura's lawyer and Laura herself.
Previously on CSI Season 12 Episode 10 "Genetic Disorder", When a man's dead body turns up naked in the bed of Doc Robbins' wife, the detectives try to "just work the scene" without bringing their pre-judgments to the table, but it sure looks like a case of Death-During-Adultery. On this week's Episode title "Ms. Willows Regrets", Catherine's friend Laura's mogul husband Mark has a lot to hide behind his successful international corporation, and he's hired a crack team of assassins to carry out the murders of anyone who might be aware of what he's doing, and that includes Laura's lawyer and Laura herself. CSI: Crime Scene Investigation (also known as CSI or less commonly, CSI: Las Vegas) is an American crime drama television series, which premiered on CBS on October 6, 2000. The show was created by Anthony E. Zuiker and produced by Jerry Bruckheimer.
It is filmed primarily at Universal Studios in Universal City, California.The series follows Las Vegas criminalists (identified as "Crime Scene Investigators" working for the Las Vegas Police Department instead of the actual title of "Crime Scene Analysts" and "Las Vegas Metropolitan Police Department") as they use physical evidence to solve grisly murders in this unusually graphic drama, which has inspired a host of other cop-show "procedurals". The series mixes deduction, gritty subject matter and character-driven drama. The network later added spin-offs CSI: Miami and CSI: NY.CSI has been recognized as the most popular dramatic series internationally by the Festival de Télévision de Monte-Carlo, which has awarded it the "International Television Audience Award (Best Television Drama Series)" three times. CSI's worldwide audience was estimated to be over 73.8 million viewers in 2009. In 2011, CSI is the most watched drama series in the world, again.CSI has been nominated multiple times for industry awards and has won nine awards during its history.
Criminal Minds Season 7 Episode 11
Criminal Minds Season 7 Episode 11 - The BAU travels to San Francisco when a series of murders leads the team to believe the elusive "Zodiac Killer" might have returned as Reid contemplates his own genius capabilities. Meanwhile, Prentiss and Reid attend a seminar on violent crime seminar hosted by the crime novelist Patricia Cornwell.
Summary:
A series of murders in San Francisco bearing the tell-tale signs of the infamous Zodiac Killer have the BAU wondering if the notorious serial killer has returned. Also, Reid ponders if he should be doing more with his genius abilities.
Summary:
A series of murders in San Francisco bearing the tell-tale signs of the infamous Zodiac Killer have the BAU wondering if the notorious serial killer has returned. Also, Reid ponders if he should be doing more with his genius abilities.
Are You There, Chelsea? Season 1 Episode 2
Are You There, Chelsea? Season 1 Episode 2 - This show was broadcast tonight. If you can not watch your favorite show on tv, you can find the full video streaming for free from hosting such as Megavideo Streaming, Divxden, Videoweed, Putlocker and more. You can watch and download for free.
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A comedy series about sassy young bar worker Chelsea Newman and her posse of working-stiff twentysomethings. In the premiere, Chelsea tries to get her life in order after getting busted for DUI. The show is inspired by the book "Are You There, Vodka? It's Me, Chelsea" by comic Chelsea Handler.
American Idol Season 11 Episode 1
American Idol Season 11 Episode 1 - The eleventh season of American Idol begins tonight on FOX from 8 to 10PM EST! Jennifer Lopez, Randy Jackson and Steven Tyler will be judging as the contestants swarm in to the studios and sing for their supper in Charleston, South Carolina and Savannah, Georgia.
Earlier today, it was revealed that some of the people behind the scenes of the show were cracking jokes about comments that Simon Cowell made. He claimed his show, The X Factor USA, would be a disappointment if it didn’t receive a record of 20 million viewers in its first night.
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