Who Gets Capital Gains That Are Tax Free?

If you are someone that currently inhabits one of the two lowest income tax brackets, there is a capital gains tax free opportunity that exists right now. It is such an amazing opportunity that you really cannot afford to pass it up for tax planning purposes.

TIPRA

TIPRA is an acronym that stands for Tax Increase Prevention and Reconciliation Act.  Passed in 2005, this piece of legislation essentially allowed people in the 10% and 15% tax brackets to sell long term investments from 2008 to 2010 without incurring any capital gains tax on them whatsoever. Amidst all of the partisan wrangling in the corporate-controlled media, this very important provision to TIPRA was not given the airtime needed in order to convey it to the vast majority of Americans.

Any long term investments that you currently have can be sold without capital gains tax if you are part of the majority of Americans that inhabit one of those two tax brackets.  This will be true right through to the end of the 2010 calendar year. For anyone that has such investments, selling them off before time runs out is definitely something that should be considered a sound financial plan.


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