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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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Thursday, June 26, 2008
USW Convention: June 30-July 3 in Las Vegas
Comtex
PITTSBURGH, June 26, 2008 /PRNewswire-USNewswire via COMTEX/ ----First Global Union Being Created to Build Bargaining Power
USW Pres. Gerard Delivering Keynote to 3,500 leaders from U.S and Canada
The United Steelworkers (USW) top international officers, executive board and 3,500 elected local union leaders from North America's steel, paper, rubber and tire, mining, oil and service sector workplaces will meet for an International Convention, Jun. 30-Jul. 3 at the Paris-Bally's Conference Center in Las Vegas to create the first global union and build trans-Atlantic bargaining power.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080131/DC12982LOGO )
Leo W. Gerard, USW international president, will deliver his keynote address: "Seize the moment, this is our time," at the 10:00 am (PDT) convention opening.
The formal signing of the agreement creating the first global union with Derek Simpson, general secretary of the UK-based international union Unite the Union (Amicus Section) will be on Wednesday, Jul. 2 at approximately 11:30 am, PDT (2:45 pm, EDT; 7:45 pm, BST in London). The signing and remarks by Gerard and Simpson, and a video roll-in by Tony Woodley, general secretary of Unite (T&GWU Section, the Transport and General Workers Union) will be transmitted via live webcast linked on union's website: www.usw.org/.
The name and structure of the new global union will be announced to USW convention delegates. The new union will have a combined total membership of more than three million active and retired workers from the U.S., Canada, Great Britain and Ireland. Further information concerning the new global union will be available after the agreement is signed on the websites of the USW (U.S. and Canada sections) and Unite (Amicus and T&GWU sections) at: www.usw.org/; www.usw.ca/; www.amicustheunion.org/; and www.tgwu.org.uk/.
Amicus and T&GWU merged to form Unite in the UK on May 1 and will have completed a fully integrated merger process in November.
Each day of the USW convention will have guest speakers and resolutions. Day One starts at 10:00 am (PDT). A 90-minute daily lunch recess is at 12:00 Noon. Days 2-4 convene at 9:00 am (PDT) and adjourn at about 5:00 pm.
USW CONVENTION DAILY SCHEDULE SUMMARY
Day One (Mon., Jun. 30) - Speakers: U.S. Rep. Bennie G. Thompson (D-2d-MS); Ken Georgetti, president, Canadian Labour Congress (CLC); U.S. Senate Majority Leader Harry Reid (D-NV). An evening cookout for delegates and guests is scheduled.
Day Two (Tues., Jul. 1) - Solidarity Rally outside Bally's Hotel on Las Vegas Boulevard in support of the Alliance for Las Vegas Taxi and Limousine Drivers (USW Local 711A and ITPE- OPEIU Local 4873); Speakers: U.S. Rep. Stephanie Tubbs Jones (D-11th-OH); Richard Trumka, secretary-treasurer, AFL-CIO; Juergen Peters, president, International Metalworkers Federation (Geneva, Switzerland). There will be a USW members-only session that's closed to the news media, 1:30 pm -5:00 (PDT). A proposed amendment to the USW constitution to increase funding of the international strike and defense fund from its current level of $145 million will be considered.
Day Three (Wed., Jul. 2) - Speakers: Samuel Kofi Woods, Labor Minister, Liberia; John Sweeney, president, AFL-CIO; Derek Simpson, joint general secretary, Unite-UK (Amicus Section) via live webcast; Tony Woodley, joint general secretary, Unite-UK (T&GWU Section) via live webcast; Lynn R. Williams, retired USW international president; U.S. Rep. Joe Baca (D-43rd-CA); presumptive Democratic Nominee for U.S. President Barack Obama (via satellite or video); Jill Long Thompson, Democratic Gubernatorial Candidate for Indiana; Napoleon Gomez, general secretary, Mexico's National Miners and Metalworkers Union-Los Mineros.
Day Four (Thurs., Jul. 3) - Speakers: Jack Layton, Chair, New Democratic Party (NDP), Canada.
The USW represents 1.2 million active and retired members in the U.S., Canada, Puerto Rico, the Virgin Islands and Aruba. It is the largest private sector union in North America, dominating representation in the industries of metals, mining, rubber, paper and forestry, oil refining, plus office, technical and service workers in healthcare, security, hotels and municipal agencies.
USW CONVENTION COVERAGE SERVICES & EVENT FACILITIES
A press section for credentialed correspondents and TV-Radio crews is located near the main stage on the convention floor (stage right) with wireless Internet service. TV and digital camera shooters require press credentials for floor, main stage and podium access. A small press riser with audio mult-box will be located at the floor press section. A press work room with Internet cable and phone service (toll calls require credit card) will be available in a room at the adjacent Bally's Hotel.
Video, photo, audio and text highlights from the convention will be made available daily on the union's website. The newly-designed interactive Web 2.0 site features live blogs, social networking, multimedia and news, offering USW members and working families around the world a valuable tool in online education, mobilization and activism.
Hotel Rooms can be booked at the adjacent Planet Hollywood Hotel & Casino: 3667 Las Vegas Blvd., South, Las Vegas, NV 89109; 866-716-8130; Reservations, 866-716-8130; www.planethollywoodresort.com/.
SOURCE United Steelworkers (USW)
http://www.steelworkers-usw.org
Copyright (C) 2008 PR Newswire. All rights reserved
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