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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, August 18, 2008
More Than 1,700 UPS Freight Workers Vote to Ratify Contract
Comtex
WASHINGTON, Aug 18, 2008 /PRNewswire-USNewswire via COMTEX/ ----Teamsters Now Represent More Than 11,600 Workers Since January
A first-contract covering more than 1,700 UPS Freight drivers and dockworkers nationwide has been ratified overwhelmingly by a margin of 94 percent. The agreement improves wages, benefits and working conditions, Teamsters General President Jim Hoffa announced today.
The Teamsters now represent a total of more than 11,700 UPS Freight workers in 41 states. In April, a new UPS Freight contract covering 9,900 workers was ratified by an 89 percent margin which improves wages, benefits and working conditions. The workers who voted Aug. 16 and 17 were certified after the April ratification vote.
"We welcome these UPS Freight workers to the Teamsters and we are proud to have negotiated for them a terrific contract," Hoffa said. "Having a binding contract with your company means employees have job security."
"With this latest vote the Teamsters now represent more than 92 percent of UPS Freight eligible under our card check and neutrality agreement. These drivers and dockworkers have shown a great commitment to joining the Teamsters and we look forward to representing them," said Teamsters Package Division Director Ken Hall. "We encourage the remaining UPS Freight workers who have not yet signed cards to do so now so they can also start benefiting from a great contract."
Workers at 50 terminals voted over the weekend. The terminals are in 23 states: Alabama, California, Florida, Idaho, Illinois, Kansas, Louisiana, Mississippi, Missouri, Nevada, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia and Wisconsin.
The Teamsters kicked off this organizing campaign in 2006 when it organized UPS Freight (formerly Overnite Transportation) workers in Indianapolis and negotiated a contract with the company that was ratified by a 107-1 vote in October 2007.
The Teamsters won a card-check agreement from UPS in December 2007, and the union launched the nationwide campaign in January. At the 90-day mark of the campaign, 9,900 workers had already signed cards. This campaign has been the largest organizing victory in the freight industry in 25 years.
The contract expires on July 31, 2013. Among the contract's highlights:
-- Wage increases totaling $4.35 per hour or nearly 11 cents a mile over the contract.
-- An improved health care plan with lower employee premium costs with no increases in costs to employees over the life of the contract.
-- Overtime pay for work exceeding 8 hours per day or 40 hours per week.
-- UPS Freight employees lock in their current pension benefits.
-- The cost of retiree health insurance for most retirees is reduced substantially with no increase in premium cost to employees over the life of the contract.
The Teamsters will continue to organize UPS Freight workers nationwide. There are currently more than 15,000 UPS Freight workers, with 12,600 eligible to sign cards. The contract ratification caps a 50-year struggle by the Teamsters to organize workers at Overnite, which was bought by UPS in 2005 from Union Pacific Railroad and renamed UPS Freight.
The 18 other states where Teamsters represent a majority of UPS Freight workers are: Arizona, Arkansas, Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, New Hampshire, New Jersey, Rhode Island, Vermont, Washington and West Virginia.
Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women in the United States, Canada and Puerto Rico.
SOURCE International Brotherhood of Teamsters
http://www.teamster.org
Copyright (C) 2008 PR Newswire. All rights reserved
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