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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
Carroll Shelby Automotive Technology Center Launched at Northeast Texas Community College
Comtex
DALLAS, Jul 17, 2008 (BUSINESS WIRE) ----Carroll Shelby, chairman and founder of Carroll Shelby International Inc. (Pink Sheets:CSBI), and Northeast Texas Community College have created the new Carroll Shelby Automotive Technology Center to offer young people an opportunity to learn valuable skills in the automotive field. The program will include a state-of-the-art facility and instruction in automotive and body repair.
The Carroll Shelby Automotive Technology Program is expected to enroll the first class in Fall 2008. This intensive, hands-on program is designed to train mechanics to enter the workforce immediately upon graduation.
"I want to help young people improve their lives through the industry that has been so good to me," said Mr. Shelby. "By giving them valuable new skills, they can be proud, productive members of society."
The program will be housed in a new automotive facility which features a climate controlled shop space, lifts, paint booth, three classrooms with roll-up doors to bring in cars, office and shower/changing rooms. The curriculum will include real-life experience, as students will build an automobile during their last semester. The goal is for these cars to be autographed by Mr. Shelby and sold. Proceeds of the sale will be used to help sustain the program.
The college is actively seeking a program Chair. That individual will be charged with building on the current programs, which include the AAS degree in Automotive Repair, an Auto Body Repair program offering a one year certificate or a two year AAS degree and a Diesel program offering three certificates and a two-year AAS degree.
"This gift is truly a unique opportunity for NTCC," noted Dr. Herbert Riedel, NTCC Vice President for Instruction and Student Development. "The partnership with Mr. Shelby will allow us to build a world-class automotive program in Northeast Texas. It will be invaluable to our college, our region, and most importantly, to our students."
Northeast Texas Community College has served students since 1985 in a beautiful wooded, rural setting. University-bound students have a full range of quality course offerings with many extras, such as athletics intramurals, a film series, and world-class musical performances. Through partnerships with Texas A&M University - Texarkana, Texas A&M University - Commerce and The University of Texas at Tyler, students can complete a bachelor's degree in education, nursing, and social work at NTCC.
In addition to the credited program, the partnership will also include various continuing education opportunities for community members. Other future projects could also include the creation of a Shelby Automobiles modification center and a test track on the NTCC campus.
Mr. Shelby and his companies will contribute a minimum of $525,000. These funds will be designated for student scholarships and support of the program. Other sponsors are expected to join the program. Additional information is available at www.ntcc.edu.
About Shelby Automobiles, Inc. and Carroll Shelby Licensing
Founded by legend Carroll Shelby, Shelby Automobiles, Inc., (www.shelbyautos.com) manufactures and markets performance vehicles and related products. Shelby Automobiles is a division of Carroll Shelby International, Inc. (CSBI.PK). Carroll Shelby Licensing Inc., also a wholly owned division, is the exclusive holder of Carroll Shelby's trademarks and vehicle design rights. It also holds trademark rights for Shelby-branded apparel, accessories and collectibles. For information, visit www.carrollshelbyinternational.com.
SOURCE: Shelby Automobiles, Inc.
Shelby Automobiles, Inc. Scott Black, 214-520-3430 sblack@tprm-usa.com
Copyright Business Wire 2008
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