Latest topics
-0- Taxable Gains option
3 posters
Page 1 of 1
-0- Taxable Gains option
A compromise extended
Updated: Wednesday, January 12th, 2011 | By Patrick Kennedy
In an effort to spur small business spending, President Barack Obama promised in 2008 to eliminate capital gains taxes on investments made by "small and start-up firms”. His rating on this promise currents stands at Compromise, following a brief window of full tax exclusion for qualifying investments provided for in the Small Business Jobs Act of 2010.
The exclusion rate was set to revert back to the pre-stimulus level of 50% on January 1, 2011, but it was extended through this year as part of the tax cut compromise that President Obama reached with House Republicans in the lame-duck session of the 111th Congress.
As before, only businesses registered as C-corporations under the federal tax code with no more than $50 million in gross assets qualify for the full exclusion. In addition, investments must be held for five years.
So because the tax cut compromise again extends the rates only temporarily, and with the same limitations as before, this promise remains rated as a Compromise.
Sources:
Thomas, HR 4583
U.S. Senate Committee on Finance, S.A.4753: The Reid-McConnell Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010
Updated: Wednesday, January 12th, 2011 | By Patrick Kennedy
In an effort to spur small business spending, President Barack Obama promised in 2008 to eliminate capital gains taxes on investments made by "small and start-up firms”. His rating on this promise currents stands at Compromise, following a brief window of full tax exclusion for qualifying investments provided for in the Small Business Jobs Act of 2010.
The exclusion rate was set to revert back to the pre-stimulus level of 50% on January 1, 2011, but it was extended through this year as part of the tax cut compromise that President Obama reached with House Republicans in the lame-duck session of the 111th Congress.
As before, only businesses registered as C-corporations under the federal tax code with no more than $50 million in gross assets qualify for the full exclusion. In addition, investments must be held for five years.
So because the tax cut compromise again extends the rates only temporarily, and with the same limitations as before, this promise remains rated as a Compromise.
Sources:
Thomas, HR 4583
U.S. Senate Committee on Finance, S.A.4753: The Reid-McConnell Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010
myaccountant- New Member
- Posts : 4
Join date : 2011-07-24
Re: -0- Taxable Gains option
This is an EXCELLENT EXCELLENT post for some. Thank you so much for your contribution.
dinargirlk- Active Member
- Posts : 86
Join date : 2011-07-10
Re: -0- Taxable Gains option
dinargirlk wrote:This is an EXCELLENT EXCELLENT post for some. Thank you so much for your contribution.
Only if your dinar are held by a C-corp with under 50 mil in assets and you have held the dinar for more than 5 years. I doubt that there are very many that qualify... :( :pale:
lonestargreg- Forum Friend
- Posts : 115
Join date : 2011-06-27
Location : Lone Star State
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
Fri May 10, 2024 5:03 pm by kenlej
» Go Russia
Sun May 05, 2024 11:37 am by kenlej
» Go Russia
Sun May 05, 2024 10:51 am by kenlej
» Textbook Tony
Mon Apr 29, 2024 4:13 pm by Mission1st
» The Rockefellers and the controllers are freaking out right about now
Fri Apr 26, 2024 11:16 am by kenlej
» Phony Tony sez: Full Steam Ahead!
Sat Apr 13, 2024 11:51 am by Mission1st
» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Sat Apr 13, 2024 11:45 am by Mission1st
» Russia aren't taking any prisoners
Fri Apr 05, 2024 6:48 pm by kenlej
» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
Wed Mar 27, 2024 6:02 am by Ditartyn
» ZIGPLACE
Wed Mar 20, 2024 6:29 am by Zig
» CBD Vape Cartridges
Thu Mar 07, 2024 2:10 pm by Arendac
» Classic Tony is back
Tue Mar 05, 2024 2:53 pm by Mission1st
» THE MUSINGS OF A MADMAN
Mon Mar 04, 2024 11:40 am by Arendac
» Minister of Transport: We do not have authority over any airport in Iraq
Mon Mar 04, 2024 11:40 am by Verina
» Did Okie Die?
Mon Mar 04, 2024 11:34 am by Arendac
» Hello all, I’m new
Wed Jan 31, 2024 8:46 pm by Jonny_5
» The Renfrows: Prophets for Profits, Happy Anniversary!
Wed Jan 31, 2024 6:46 pm by Mission1st
» What Happens when Cancer is treated with Cannabis? VIDEO
Wed Jan 31, 2024 8:58 am by MadisonParrish
» An Awesome talk between Tucker and Russell Brand
Wed Jan 31, 2024 12:16 am by kenlej
» Trafficking in children
Mon Jan 29, 2024 7:43 pm by kenlej