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These gains don't cause pain. A capital gain is the amount of money you pocket by selling one of your investments for more than you paid for it. Technically, capital gains only count for what's called a capital asset, but that's really just anything you own for investment purposes. Stocks and bonds obviously qualify, but your house and household furnishings can also count.
For tax purposes, capital gains are classified as either long-term (held for more than one year) or short-term (held for less than one year) and there are different tax implications for how long you hold onto a capital asset. For most long-term capital gains, you're taxed no more than 15% of the value of the asset. Short-term gains get taxed as regular income, so you pay the rate for the tax bracket you're in.
Capital gains can also be realized or unrealized. When you physically sell an asset like a stock, you've realized the capital gain. When you're holding the stock, and it has a value over its purchase price, but you're not selling it, you've got an unrealized gain, and you won't realize it until you sell.
In a perfect world, we'd all have capital gains. But no one¿s that smart or lucky. When the value of an asset at sale is below what you've paid for it, it's called a capital loss. The good news is that the government lets you count that loss against any gains you've had, lowering the taxes you pay. In fact, many people who sell a stock that has risen far over their purchase price tend to sell some stinkers, too, at the same time for the tax benefit. This is known as a capital-loss offset.
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Tuesday, June 24, 2008
Vast Exploration Inc.-Appoints Dr. Fari Goodarzi as Vice President, Exploration
Comtex
CALGARY, ALBERTA, Jun 24, 2008 (Marketwire via COMTEX) ----Vast Exploration Inc. ("Vast" or "the Company") (TSX VENTURE:VST) is pleased to announce that it has appointed Dr. Fari Goodarzi as Vice President, Exploration.
Dr. Goodarzi's background includes over 40 years of technical and management roles with public, private and government corporations. Fari managed and successfully conducted various regional hydrocarbon evaluation studies in frontier basins such as Arctic Canada. He has extensive experience in the exploration of conventional and unconventional oil, gas & coal resources. Dr. Goodarzi holds a Master of Science and a Doctor of Philosophy in Geology and Geochemistry from University of Newcastle-Upon Tyne in England and is a Fellow of the Royal Society of Canada.
About Vast Exploration Inc.
Vast Exploration Inc. is an independent oil and gas company, and a partner of Niko Resources Ltd. Vast is focused on the exploration and development of its principal asset, the Qara Dagh Block, in the Kurdistan region of Iraq. The Qara Dagh Block lies on trend with existing discoveries and is located in the prolific Zagros Fold Belt of Northern Iraq which contains several large fields including the super-giant Kirkuk field.
Regulatory Statements
Statements in this release that are not historical facts are "forward-looking information" within the meaning of applicable securities law. Forward-looking information typically contain words such as "anticipate", "plan", "expect", "potential", or similar words suggesting future outcomes and include, without limitation, statements regarding the impact of management and board appointments; future performance of management and the board; the Company's operational plans; corporate strategy; and the availability of acquisition opportunities. There can be no assurance that such information will prove to be accurate; actual results and future events could differ materially from such information. Factors that could cause actual results to differ materially include, among others, commodity prices, third party risks, acquisition risks, risks inherent in the oil and gas industry, licensing risks, financing risks, regulatory risks and environmental concerns. Investors are cautioned not to place undue reliance on forward-looking information.
SOURCE: Vast Exploration Inc.
Vast Exploration Inc. Ahmed S. Said President & Chief Executive Officer (403) 263-3000 (403) 263-3041 (FAX) Email: asaid@vastexploration.com
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