loriluvs2play Posted May 24, 2011 Report Share Posted May 24, 2011 Is there a tax advantage to being invested since 2005 verses investing now? I do not really understand the long term/short term info that I have read in other places. From what I see there are some very smart people here so can you give me any info? I am educated and read fairly well so you won't have to type slowly. It's just comprehending has never been my strong point.. I get bored easily with the long reports I see on sites . Thank you Link to comment Share on other sites More sharing options...
Gasketman Posted May 24, 2011 Report Share Posted May 24, 2011 Short term ( less than a year ) 35% capital gains tax $35.00 Dollars per $100.00 profit Long term ( more than a year ) 15% capital gains tax $15.00 Dollars per $100.00 profit This does not include your state tax which depends on where you live, you will also pay a spread and a premium upon cash in. No idea what that will be. After it's all said and done short term you will probably net 45 50% or $45 - $50 per hundred long term 65 - 70% $65 - $70.00 per hundred 1 Link to comment Share on other sites More sharing options...
loriluvs2play Posted May 24, 2011 Author Report Share Posted May 24, 2011 Gasketman thank you for your reply. You put it in terms that I could understand without getting bored and twiddeling my thumbs. i invested in 2005 so there will be more money available after rv to do good things.. tyvm Link to comment Share on other sites More sharing options...
The Machine Posted May 24, 2011 Report Share Posted May 24, 2011 (edited) Short term ( less than a year ) 35% capital gains tax $35.00 Dollars per $100.00 profit Long term ( more than a year ) 15% capital gains tax $15.00 Dollars per $100.00 profit This does not include your state tax which depends on where you live, you will also pay a spread and a premium upon cash in. No idea what that will be. After it's all said and done short term you will probably net 45 50% or $45 - $50 per hundred long term 65 - 70% $65 - $70.00 per hundred WOW .... I really find it amazing just how much tax you guys are gonna pay !!! All im looking at paying is 1% to the bank for cash in which may be waved depending on the amount i plan to deposit with the bank ........ and thats it ..... now i will get taxed on my interest for any account but there are ways around that .... i could open a tax free account with 4.4% interest that can be compounded monthly which amounts to roughly £44,000 / $71,700 on interest alone for year one on 1 million pounds and all tax free baby !! you guys really get screwed .... I thought it was bad here. GO RV Edited May 24, 2011 by The Machine 1 Link to comment Share on other sites More sharing options...
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