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July 16, 2014

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Taxes are so complicated now that my husband who is a retired IRS agent (we don't say that too loudly nowadays) has a hard time keeping up with the rules. Different rates kick in at different income levels and add in the mix the income ceilings imposed by Obamacare for higher rates....well its a royal mess.

best govt money can buy? WE got it!

I think if a cohabiting couple is making over $400K between them the small extra tax on being marries isn't going to be the reason they don't get married.

Remember - the tax is only on profits. You can always sell a losing stock to counter-balance some of the profits.

More complex is certainly not something we needed. Is good to be on the lookout for ways to reduce the amount needing to be paid like through charities.

We're getting to the point that anyone who owes capital gain tax (25% bracket and above) needs a good tax guy for many other reasons anyway. I've got one state business gains tax filing I need help on, I left my CPA b/c he did it wrong (didnt know it needed to be filed it at all), and now I can't find anyone to take me on that I think would understand it and do it right. Hopefully before the extension runs out in 3 months (that I think i filed correctly) I can find someone...

Every time the cap gains tax was increased, the revenue from the tax decreased. Every time the capital gains tax was decreased, the revenue from the tax increased.

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