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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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Friday, July 11, 2008
Five States Step Up Efforts to Screen Newborns for Cystic Fibrosis
Comtex
WASHINGTON, July 11, 2008 /PRNewswire-USNewswire via COMTEX/ ----More Than 40 States Now Provide Routine Testing for Life-Threatening Disease
Four states -- Arkansas, Kansas, Maine, and West Virginia -- have joined 40 others and the District of Columbia in requiring that all newborns be screened for cystic fibrosis (CF) at birth.
In addition, Utah has cleared the way to begin regular CF screening as well. Routine screening is expected to begin January 1, 2009.
"Newborn screening for cystic fibrosis is critically important because it allows doctors to diagnose the disease before a child becomes ill," said Robert J. Beall, Ph.D., president and CEO of the Cystic Fibrosis Foundation. "Early diagnosis leads to a better chance for a healthier and longer life. Each of these states has taken an important step in the fight against cystic fibrosis."
Research studies show that newborn screening for CF will likely improve and extend the lives of those born with the disease. Early diagnosis allows affected infants to begin therapeutic interventions immediately. In research studies, these interventions have been shown to improve height, weight, nutrition, cognitive and lung functioning, and to reduce hospitalizations.
Cystic fibrosis is a fatal genetic disease that affects 30,000 children and adults in the United States and 70,000 people worldwide. It causes thick mucus to build up in the lungs and other organs, resulting in life-threatening infections and serious digestive complications.
Newborn screening for cystic fibrosis is important because more than 10 million Americans are symptomless carriers of a cystic fibrosis gene. Additionally, most people who have a child with CF are not aware of a family history of the disease.
When the Cystic Fibrosis Foundation was created in 1955, few children lived to attend elementary school. Today, as a result of dramatic improvements in research and care fueled by the Foundation, the median age of survival for a person with CF is 37 years.
About the Cystic Fibrosis Foundation
The Cystic Fibrosis Foundation is the leading organization in the United States devoted to curing and controlling cystic fibrosis. Headquartered in Bethesda, Md., the Foundation has more than 80 chapters and branch offices throughout the country and supports and accredits a nationwide network of 115 care centers, which provide vital treatments and other CF resources to patients and families. For more information, visit http://www.cff.org.
SOURCE Cystic Fibrosis Foundation
http://www.cff.org
Copyright (C) 2008 PR Newswire. All rights reserved
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