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Year-End Tax Tips For Investments |
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Losses are never a thing of beauty, but they can become
palatable at this time of year. Even if you're convinced
that the paper loss is only a temporary situation, you
should still consider selling. You can buy the position
back in 31 days to avoid what's called a "wash sale."
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QSBS: An Opportunity for Investors? |
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About a decade ago, aiming to give a boost to developing
small businesses, Congress granted an unusual tax break,
allowing taxpayers who buy newly issued shares of
qualified small business stock (QSBS) and hold it for
five years to exclude from taxation half of their
capital gain realized on the eventual sale.
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A Safer Way to Invest in Stocks |
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Investing in stocks can be surprisingly safe for certain
investors. The men and women who are putting regular
amounts into stock funds through 401(k) plans, for
instance. For investors who put set amounts into stock
funds, month after month and year after year, long-term
success is a virtual certainty.
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IRS Circular 230 disclosure: To ensure
compliance with requirements imposed by the
IRS, we inform you that any U.S. federal tax
advice contained in this document is not
intended or written to be used, and cannot
be used, for the purpose of (i) avoiding
penalties under the Internal Revenue Code or
(ii) promoting, marketing or recommending to
another party any transaction or matter that
is contained in this document.
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2008 Standard Mileage Rates
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The Internal Revenue Service today issued the 2008
optional standard mileage rates used to calculate the
deductible costs of operating an automobile for
business, charitable, medical or moving purposes.
Beginning Jan. 1, 2008, the standard mileage rates
for the use of a car (including vans, pickups or panel
trucks) will be:
- 50.5 cents per mile for business miles driven;
- 19 cents per mile driven for medical or moving
purposes; and
- 14 cents per mile driven in service of
charitable organizations.
Read On... |
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