WINR-Secure Banking to Global Internet Gaming & E-Commerce Message Board

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Microcap & Penny Stocks : WINR-Secure Banking to Global Internet Gaming & E-Commerce

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Nov 14 9:30 AM EST

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To: yomaz who wrote (3968)	1/15/1999 9:09:00 PM
From: swedelo	Read Replies (4) of 6545

Mr. Yomaz, I believe, and I am writing this without double checking with my accountant (and tax code book is at the office, of course), but I believe effective Last April or may the short term period was reduced from 18 months to 12 months @ a rate of 20%...18% if your in the lower income bracket and after 5 years it is 10% ...8% if in lower tax bracket. Anything less than 12 months is considered regular income and taxable at your regular rate (in my case 35-42% + 7% state tax no matter what). Now there was a period of overlap during the conversion from the 18 month period to the 12 month period that was very confusing (my accountant even had to read it about 4 times before he could explain it. I could go on ( the tax book certianly does) but that is my understanding of the code now, thanks to the freshman republican congress that was voted in, in 1994. If you find I am mistaken, please let me know so I can cancel my accountants check! Best Wishes, Swedelo

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