This week’s interview on Financial Insider Weekly is with Paul Duren, Senior Vice President of Bridge Bank. Our interview subject is "Small business financing."
2011 might be your last chance to position yourself for long-term capital gains eligible for the 15% maximum federal tax rate for long-term capital gains. In addition, the 3.8% Medicare tax on investment income when adjusted gross income exceeds $200,000 for singles and $250,000 for married filing joint returns enacted as part of the Health Care Reform legislation will also become effective after 2012, so the maximum long-term capital gains rate for high-income taxpayers is scheduled to be 23.8%. The Bush tax cuts, which were extended to 2011 and 2012 are scheduled to expire after next year.
For many taxpayers, 2010 might be their last chance to pay a "bargain" 15% federal tax rate for long-term capital gains. Individuals who have appreciated assets should consider selling them this year and paying the tax for 2010.