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Pastimes : Tidbits
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To: Didi who wrote (1045)11/17/2000 5:28:06 PM
From: OX  Read Replies (1) of 1115
 
>>>Note the subtle difference in the five-year requirement. For people who will owe capital gains tax at the 8% rate, the assets must have been held for five years, but can be sold as early as Jan. 2, 2001.
Anyone else seeking this lower rate, the assets must be acquired after Dec. 31 and held five years before they are sold.
<<<

<soapbox>
why doesn't the govt just make these laws simple, easy and consistent?
there must be an overriding law that states that tax code *cannot* be simple, straightforward and have the same stipulations for similar rules applied to different brackets :-)

<lighter note>
>>>Laurence Foster, a certified public accountant and personal financial specialist
with Richard A. Eisner & Co. in New York, suggests the difference creates a
tax-planning opportunity.
<<<

read: additional billing opportunity
<vbg>
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