Things to Consider for Your 2015 Capital Gains Tax
There are all kinds of investors in the world. Some are looking to make a quick buck by buying and then quickly selling stocks as soon as they increase in value. Other investors buy stocks with an eye toward the future, which means they are in it for the long haul.
In any case, anyone who invests wants to be successful at it. It’s a great feeling to buy stock in a company and see that stock increase in value. However, at some point if you plan on selling that stock and cashing in or your gains, you will have to give a portion of those gains to the taxman. What percentage you will owe will depend on the size of your gain and how long you have owned the stock.
The government wants investors to hold onto their stocks longer. To encourage this they have a lower tax percentage on stocks held longer than a year. Whether you’re a quick turnaround trader or a long-term investor here’s what you should be aware of in 2015 for your capital gains taxes.
First, generally all you need to know to determine your capital gains is the difference between what you paid for the stock and how much you sold it for. When you know that amount then you can calculate the tax. Your tax rate will depend on which bracket you’re in. There are three that apply:
- If your ordinary income puts you in the 10-15 percent tax bracket, then your long-term capital gains rate is 0 percent.
- If your ordinary income falls in one of the 25, 28, 33, or 35 percent tax brackets then your long-term capital gains rate is 15 percent.
- If your ordinary income is in the 39.6% tax bracket, then your long-term capital gains rate is 20%.
There are a few other caveats to remember. For high-income earners, there is an additional 3.8 percent surtax on net investment income. Also, you only pay taxes on the net of your capital gains, which can make a big difference if you sell more than one stock in a year. If you want to learn more about capital gains taxes then please contact GROCO for more answers. Click here or call us at 1-877-CPA-2006.
Top Moments in Space Exploration
“Remember to look up at the stars and not down at your feet.” – Stephen HawkingThere is no question that space exploration has progressed technology, increased our understanding of the world around us, and inspire us to new heights. Space travel continues to inspire us today. Here is our list of 10 inspiring moments in space exploration. Please share what other inspiring space moments you think should be on the list.10. Space X Falcon Heavy LaunchSpace X Falcon Heavy launch was a big deal for
How to Become a Global Business Leader
Not everyone that wants to become a global business leader is going to reach that goal. That’s because it takes serious commitment, hard work, and a relentless desire to succeed in order to become a successful global business leader. But don’t despair; nothing is impossible if you’re willing to do the work. But you will need to make certain decisions to get there.Don’t be afraid to take chances – taking risks is important, but you don’t want o be reckless. It’s best to take educated risks
Is Bitcoin Ready for Another Surge?
Is Bitcoin Ready for Another Surge? If you’re lucky enough to own a stake in the cryptocurrency Bitcoin, then you’re already aware of it’s extreme volatility. The ultra popular digital currency has experienced massive jumps and slides during the last year, which have seen it reach as high as $19,783 back in December, only to…
How to Start a company with $101
“How can I get my company started if I don’t have any money?” If you are asking this question, you are not alone. The solution is Bootstrapping.Bootstrapping is starting a business with little resources; this includes, money, skills, and a vast array of knowledge. Businesses are starting all around the world and succeeding with very little money. Here are some ideas for you to consider and some guidelines to follow. Reduce cost for things that don’t matter to your customers. The internet has