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 03, 2008

Microsoft Imagine Cup 2008 Finals Showcase Tomorrow's Technology Leaders

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PARIS, Jul 03, 2008 (PR Newswire Europe via COMTEX) ----Largest technology competition in the world kicks off its finals today in Paris.

Competition begins today for 370 students from 61 countries and regions competing for US$240,000 in prize money at the Imagine Cup 2008, an annual competition that gives students round the world the chance to unlock their creative genius and create technology solutions that can help address some of the world's toughest social challenges.

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The focus for Imagine Cup 2008 is on building technology solutions that help address challenging environmental sustainability issues. From a pool of over 200,000 participants, 124 teams have been selected to represent their countries in Paris for a week of competition about their innovative technology solutions. These student-developed solutions range from improving access to clean water, reducing pollution and carbon emissions to achieving sustainable cities and reducing demand on energy.

"Imagine Cup inspires these students to address the world's challenges in new ways and deliver innovative technology solutions that can truly change the world for the better," said Jean-Philippe Courtois, president of Microsoft International. "We hope that some of these students will become the entrepreneurs of the future, innovating and creating jobs like some of the previous winners. We wish all the finalists the best of luck in what will be an intense week of competition."

Students and teams compete in the worldwide Imagine Cup finals across nine categories: Software Design, Embedded Development, Game Development, "Project Hoshimi" (Programming Battle), IT Challenge, Algorithm, Photography, Short Film and Interface Design. Individual students and teams are in the final stages of a yearlong competition and will undertake a series of onsite challenges relating to technology and digital media depending on the category. The winners will be announced on Tuesday, July 8, as part of the Imagine Cup World Festival closing ceremonies.

"For me, the Imagine Cup was a once-in-a-lifetime opportunity to explore the power of software, make new friends from round the globe who share my passion for innovation and technology, and leverage the event as a starting point for my career," said Vincent Bellet, a finalist from Imagine Cup 2006. "After the Imagine Cup final, I received more than 50 job offers from different companies. To win the French finals and to be a worldwide finalist for a competition sponsored by Microsoft has been a great plus on my resume."

In coordination with Imagine Cup, Microsoft, together with INSEAD, the Women in IT forum and the European Schoolnet, will be hosting a high-level round table to raise awareness of and direct policy attention to the need for promoting greater participation of young women in technology and science studies.

The Imagine Cup, now in its sixth year, challenges students to imagine a better world enabled by their own talent and also to contribute directly to the future of technology, software and computing. Teams develop innovative technological and digital media projects that offer real-world solutions to real-world problems.

Sponsors for the Imagine Cup 2008 finals include Air France, Avanade, BT, Dassault Systemes, HP, Novotel, Paramount Pictures Corp and Quiksilver Inc.

About Microsoft

Founded in 1975, Microsoft (Nasdaq: MSFT) is the worldwide leader in software, services and solutions that help people and businesses realise their full potential.

About Microsoft EMEA (Europe, Middle East and Africa)

Microsoft has operated in EMEA since 1982. In the region Microsoft employs more than 16,000 people in over 64 subsidiaries, delivering products and services in more than 139 countries and territories

This material is for informational purposes only. Microsoft Corp disclaims all warranties and conditions with regard to use of the material for other purposes. Microsoft Corp shall not, at any time, be liable for any special, direct, indirect or consequential damages, whether in an action of contract, negligence or other action arising out of or in connection with the use or performance of the material. Nothing herein should be construed as constituting any kind of warranty

Web site: http://www.microsoft.com

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