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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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Monday, June 30, 2008
Suicide, PTSD, Homelessness, High Unemployment Cited by Experts from Veterans Across America, NY Chamber of Commerce, Veterans' Groups, at Hearing Before NY City Council
Comtex
NEW YORK, June 30, 2008 /PRNewswire via COMTEX/ ----A dispiriting litany of the many problems New York-area military veterans are facing -- rising suicide rates, Post Traumatic Stress Disorder (PTSD), homelessness, high unemployment -- was voiced by a distinguished group of experts last week, at a New York City Council hearing, "Exploring Employment Options for New York City's Veterans," organized by the nonprofit Veterans Across America.
Councilman Hiram Monserrate, a Gulf-War veteran (a Marine) who became the first Latino elected to public office in Queens, held the hearing as Chairman of the Council's Veterans' Committee.
Councilman Monserrate thanked Veterans Across America for gathering a knowledgeable group of experts, and pledged his support for veterans.
Dr. Ray Healey, co-founder of Veterans Across America (VAA), announced that VAA, partnering with the Greater New York Chamber of Commerce, will stage a veterans' employment conference, "Six Months to Success," in April 2009. Dr. Healey said the Conference would focus on the needs of wounded and disabled veterans.
Anne Marie Agnelli, Vice President of Public Affairs for CA Inc. (Islandia, NY), announced at a press conference that her company was supporting "Six Months to Success" with a substantial sponsorship contribution.
Wes Poriotis, co-founder of Veterans Across America, said, "One great solution to all the problems outlined here today, from unemployment to depression to homelessness, is good jobs. Employment heals many ills."
Among the statistics cited at the hearing:
-- Andrew Roberts, an Iraq war veteran and 1997 graduate of West Point, reported that a recent RAND Corp. study "indicated that as many as 300,000 veterans may be suffering from PTSD or major depression ... The military is paying a heavy price for these conflicts."
-- Martin Richardson, who counsels wounded veterans for the Freedoms Foundation's "Return to Honor" program, noted that "VA estimates that 18 veterans a day -- or 6,500 a year -- commit suicide," and a CBS News survey found that among veterans aged 20-24, the suicide rate was from 2.5 to 4 times higher than for non-veterans.
-- Dr. Ray Healey, co-founder of Veterans Across America (VAA), noted a key finding from VAA's 2006 veterans' employment study: "There is little demand by private sector employers for military veterans because they are perceived as contributing little or no business value."
-- Michael Gold, a Vietnam-era veteran representing the Brooklyn-Staten Island chapter of Vietnam Veterans of America, cited a Daily News story reporting that "nearly 6,000 service members in the city and Long Island are homeless as returning soldiers from Iraq and Afghanistan."
Fortunately, good solutions were offered for the problems of New York's veterans, notably quality employment.
-- Wes Poriotis, co-founder of Veterans Across America, said, "The instant network created by the 'Six Months to Success' program is the bridge and the vital supply chain between the hidden talent [veterans] and the hidden job market." Mr. Poriotis applauded "Mr. Monserrate's and Mark Jaffe's vision in linking together the NY City Council with the Greater New York Chamber of Commerce and its 10,000 members, who will become business mentors to able and disabled veterans."
-- Mark Jaffe, President of the Greater New York Chamber, pledged the "full and vigorous support" of his organization for the mission of expanding veterans' employment, and the success of "Six Months to Success."
-- Joe Rojas, a Gulf War veteran from the Bronx who is now Senior Partner of his own company, Computer ER, reported the hard times he had finding employment post-service, and how much he would have been helped by a "Six Months to Success" type mentor. Rojas pledged he would be a mentor for the conference.
-- Major General William Terpeluk, a (Reserve) Commander from Queens and an employee of Merck & Co., cited the serious obstacles to employment many veterans still face, but said "Six Months to Success" would make a difference.
Dr. Healey, Mr. Poriotis and their Veterans Across America team recently completed a year-long, Congressionally mandated and VA-sponsored study of veterans' employment, which concluded that "today's veterans face significant barriers for successfully transitioning to private sector employment." Dr. Healey reported the study's major findings in his testimony.
Veterans Across America -- http://www.veteransacrossamerica.org -- is an employment initiative of The Center for Military and Private Sector Initiatives, Inc., a nonprofit 501(c)(3) organization founded in 1995 to improve employment opportunities for military personnel transitioning to the private sector. Wes Poriotis and Dr. Ray Healey co-founded Veterans Across America (VAA) in 2002, and in 2006 VAA conducted the study of veterans' employment. In April 2009 Veterans Across America will stage "Six Months to Success," a veterans' employment conference, in New York City.
For more information about "Six Months to Success," visit http://www.veteransacrossamerica.org
This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com.
SOURCE Veterans Across America
http://www.veteransacrossamerica.org
Copyright (C) 2008 PR Newswire. All rights reserved
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