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Tax Tips

How to get $10,000 tax free

One of the tax saving strategies I’ve been implementing this year involves long term capital gains. Currently, as long as you are in the 15% tax bracket, all long term capital gains are tax free. Since the stock markets have been rather chaotic over the past months, I decided to go ahead and take some of the gains while they would be tax free. While the rates are currently the same for 2012, with an enormous federal deficit looming, budget cuts coming from the congressional subcommittee, and ongoing chatter about raising taxes, I didn’t want to wait and hope that the law didn’t change. Let’s...

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