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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Friday, August 15, 2008

Teamsters Local 1224 Pilots Welcome Congressional Hearings on DHL

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WILMINGTON, Ohio, Aug 15, 2008 /PRNewswire-USNewswire via COMTEX/ ----Official Statement of Local 1224 President Capt. David Ross

The following is a statement of Capt. David Ross, President of Airline Professional Association/Teamsters Local 1224 in Wilmington, Ohio, representing the pilots who fly for ABX Air Inc.:

"The DHL plan to partner with United Parcel Service (UPS) for air cargo delivery in the United States raises serious antitrust concerns and warrants an immediate investigation. House Transportation Committee Chairman James L. Oberstar, D-Minn., scheduled a Sept. 16 hearing into the proposed transaction. Also, House Judiciary Subcommittee Chairman John Conyers, D-Mich., and Rep. Betty Sutton, D-Ohio, announced they will hold a hearing before the committee's Task Force on Competition Policy and Antitrust Laws. I applaud the leadership of these two committees for addressing this critically important matter.

"The call for these hearings comes after a bipartisan effort by the Ohio congressional delegation demanding an antitrust hearing and an investigation by the Antitrust Division of the U.S. Justice Department. Sens. George Voinovich and Sherrod Brown, Rep. Mike Turner and other representatives across Ohio, Gov. Ted Strickland, Lt. Gov. Lee Fisher and Wilmington Mayor David Raizk have all been untiring in this effort.

"Both presidential candidates also have called for action. Sen. Barack Obama sent a letter to the White House asking the administration to affirmatively act to examine the proposed agreement to ensure it does not violate antitrust laws, and if not, then work to ensure the workers and Ohio communities are not left without assistance in finding new jobs and a new use for the Wilmington Air Park. Sen. John McCain visited Wilmington and promised he would push for Senate hearings.

"I am honored to have personally briefed both candidates and their legislative staffs in Washington. The proposal puts more than 8,200 jobs directly at risk in a town of about 13,000 people. The proposal is to abandon the Wilmington Air Park and the surrounding communities.

"Local 1224 applauds the support of all representatives, coalitions and community activists involved."

SOURCE Teamsters Local 1224

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