This may have already come up and if so, my apologies.
First, let me say I am not a Federal Income Tax expert. That being said, as I planned for year end and took a closer look at my investments I ran across something that may be of value to someone here to save money, so I thought I should pass this on. I will attach a link to an article that also helps explain it.
Many have investments in mutual funds, etc. they may have had for many years. The nest egg may have taken a hit during the downturn but it hopefully came back. It may now be sitting in the black and the market seems to be on a slow uptick so why fix what isn't broken, right?
Not necessarily. Here's why. The current long term (investments held longer than one year) capital gain tax rates on investments became effective in 2008 and they will end at the end of 2012. We hear in the MSM how the capital gains rate is going to go from 15% to 20%. There is more to the story that isn't being reported though. More below...
