Tax
Nov. 2, 2013
Death is not the only capital gains loophole
What if Mom and Dad are a healthy 85 and 80, and they do not wish to wait that long to liquidate their investment?
The maximum federal tax rate on long-term capital gains started at 15 percent in 1916 and jumped to 67 percent the next year, reaching the all-time high of 77 percent in 1918. From those heights everything since has, comparatively, been downhill. The second historic high of almost 40 percent occurred in 1976-1978. From Jan. 1, 2008, through Dec. 31, 2012, the tax returned to its original rate of 15 percent, the historic law. ...
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