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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
WIPP Applauds Senate Appropriations Committee Action Halting Implementation of the SBA's Proposed Women Procurement Rule
Comtex
WASHINGTON, July 11, 2008 /PRNewswire-USNewswire via COMTEX/ ----Women Impacting Public Policy (WIPP), the nation's largest bi-partisan group of women in business, applauds strong action taken yesterday by the Senate Appropriations Committee to halt implementation of the Small Business Administration's (SBA) proposed rule on women's procurement programs. The Committee, which appropriates funding for federal agencies, included a prohibition on funding the proposed rule's implementation in the Financial Services Appropriations for Fiscal Year 2009.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060727/DATH022LOGO)
"The action taken by the Appropriations Committee sends the strongest message possible that there is no Congressional support for the proposed rule. We want to thank Chairman Richard Durbin (D-IL) and Senator Sam Brownback (R-KS) for including the provision in the bill and applaud Committee members Senators Barbara Mikulski (D-MD), Mary Landrieu (D-LA) and Patty Murray (D-WA) for their continued leadership on this critical issue," said WIPP President Barbara Kasoff. "WIPP once again calls on the SBA to withdraw the rule and looks forward to discussing this issue with the nominee for SBA Administrator, Sandy Baruah."
Released in December 2007, the SBA's proposed rule has sparked outrage amongst women business owners, women business organizations and lawmakers. If enacted, the rule would drastically limit the number of governmental contracts awarded to women entrepreneurs by requiring women-owned businesses to show under-representation in thousands of industries and direct discrimination by a government agency to qualify for protected status. Furthermore, the SBA's proposed rule chips away at Public Law 106-554, passed by Congress in 2000, that federally mandated five percent of all contracts to be awarded to women- owned businesses and would set dangerous new legal precedents that could undermine existing set aside programs for women and minorities.
"We also want to thank the Senate Small Business Committee Chairman John Kerry (D-MA) and ranking member Olympia Snowe (R-ME) for their continued support on this issue," said Kasoff. "We look forward to working with Congress on new legislation that will provide real procurement opportunities for women business owners and strengthen the directions given to the SBA on how the program should be developed. We want a strong women's procurement program -- we just don't want the one proposed by the SBA to go any further."
For more information, visit http://www.wipp.org.
SOURCE Women Impacting Public Policy
http://www.wipp.org
Copyright (C) 2008 PR Newswire. All rights reserved
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