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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 23, 2008
Uncle Sam's on a Hiring Spree But Needs New Financial Incentives and Recruitment Strategy to Attract the Best and Brightest in Today's Economy
Comtex
WASHINGTON, June 23, 2008 /PRNewswire via COMTEX/ ----Despite the grim job forecast, the nation's largest employer -- Uncle Sam, is on a hiring spree, looking to bring on hundreds of thousands of the nation's best and brightest, according to the Partnership for Public Service.
Two key factors are driving the federal government's hiring projections, according to the organization's research:
-- The brain drain. Nearly one-third of the federal workforce, 530,000 employees, is expected to retire or leave in the next 5 years.
-- The need to keep American's safe. 193,000 mission-critical jobs must be filled by September 2009, including scientists, medical personnel, lawyers, accountants, IT experts and a variety of security positions, including: border patrol agents, customs officers, immigration agents, food inspectors, criminal investigators and airport screeners.
In a Zogby poll released today and commissioned by the nonprofit, nonpartisan Partnership for Public Service nearly two-thirds of young people reported that they have considered working for the federal government.
"The federal government provides the perfect opportunity to make a living and make a difference," said Max Stier, Partnership for Public Service president. "And, it appears young people are primed to hear the call to serve. Now the government needs to do a better job closing the deal."
The poll provides a timely snapshot of young people's views on jobs. Salary is the most important factor when considering a job opportunity, according to 63 percent of young people surveyed, followed by meaningful work (33 percent) and job location (31 percent).
"This is good news for Uncle Sam," says Stier. "For many fields, the federal government provides competitive salaries and the chance to work on critical issues that affect Americans every day. Eighty-five percent of federal jobs are located outside of the Washington, D.C. area with jobs available in virtually every city, state and community. The government needs to do its part to make sure people know this."
In addition, the Zogby poll revealed that student debt is an impediment to government service. One-third of young people polled who carry more than $25,000 in student loans report that their debt limits their ability or inclination to pursue jobs in government. This is significant because nearly two-thirds (60 percent) of young people polled are carrying student debt - with 12 percent polled owing more than $50,000.
To help overcome these financial disincentives to service, Reps. David Price (D-NC) and Christopher Shays (R-CT) recently introduced a bill in Congress that would create a program, championed by the Partnership, to help the federal government fill mission-critical jobs with the best and brightest students. Similar to the military's ROTC program, the Roosevelt Scholars Act of 2008 would create a "civilian ROTC" program that would provide graduate school tuition and a stipend for living expenses in exchange for a minimum of three years of federal government service.
The Zogby survey found that 73 percent of young people would (or would have) consider applying for a program that would pay for their college education and living expenses in exchange for three years of service in the federal government.
The economy topped the list of critical issues young people believe our federal government needs to address (nearly 40 percent) with 28 percent citing it's the war in Iraq and 19 percent, health care.
The poll was administered by Zogby Interactive Nationwide to young adults, 18 to 29 years old, May 30 through June 2, 2008.
The Partnership for Public Service works to revitalize the federal government by inspiring a new generation to serve and by transforming the way government works. It will present its Theodore Roosevelt Award for the Advancement of Public Service to New York City Police Commissioner Raymond W. Kelly on June 24, in New York City. Media interested in learning more about the Partnership's mission and research should contact Maya Israel at the number above.
SOURCE The Partnership for Public Service
Copyright (C) 2008 PR Newswire. All rights reserved
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