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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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Thursday, July 17, 2008
Dr. Thomas Cooley Joins Thornburg Mortgage Board of Directors; Stuart Sherman Resigns after 15 Years of Service
Comtex
SANTA FE, N.M., Jul 17, 2008 (BUSINESS WIRE) ----Thornburg Mortgage, Inc. (NSYE: TMA), announced today that Thomas F. Cooley, Ph.D., has been elected to the company's Board of Directors. The company also announced that Stuart Sherman, a member of the board since 1999, has resigned from the board.
Dr. Cooley serves as the Richard R. West Dean at the New York University Stern School of Business, where he is also the Paganelli-Bull Professor of Economics. He is also a research associate at the National Bureau of Economic Research. With more than 25 years experience in teaching macroeconomics and international economics, Dr. Cooley has been honored with several teaching excellence awards, an honorary doctorate from the Stockholm School of Economics, and fellowship in the Econometric Society. He is the author of a number of publications and serves on the editorial board of The Journal of Monetary Economics.
"I'm pleased that Tom has joined our board of directors," said Thornburg Mortgage President and Chief Executive Officer Larry Goldstone. "His in-depth knowledge on wide-ranging economic issues will add a valuable dimension as we navigate the extraordinary challenges of the current environment to rebuild Thornburg Mortgage and return to profitability."
Commenting on Stuart Sherman's resignation, Mr. Goldstone said, "Having served as a director since the company's inception 15 years ago, Stuart played a key role in establishing Thornburg Mortgage as one of the nation's top jumbo mortgage lenders. His contributions will be greatly missed, and we wish him all the best."
Thornburg Mortgage is a leading single-family residential mortgage lender focused principally on prime and super-prime borrowers seeking jumbo and super-jumbo adjustable-rate mortgages.
SOURCE: Thornburg Mortgage, Inc.
Thornburg Mortgage, Inc., Santa Fe Investor Relations 505-989-1900 or Media contact Suzanne O'Leary Lopez 505-467-5166 or ir@thornburgmortgage.com
Copyright Business Wire 2008 ********************************************************************** As of Sunday, 07-13-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated a DOWNTREND on 05-07-2008 for TMA @ $0.91. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright � 2004-2008 Comtex News Network, Inc. All rights reserved.
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