The capital gains tax is a tax on the profit made when an asset, such as stocks, real estate, or other investments, is sold for a higher price than it was purchased for.
Capital gains taxes can be imposed at both the federal and state levels, and the rate is determined by a number of factors, including the type of asset, the length of time held before sale, and the taxpayer’s income level.
Stocks, bonds, and precious metals are examples of common assets that can be subject to Capital Gains Tax (CGT) when sold.
The legislation governing CGT is extremely complicated. There are numerous tax breaks and exemptions that can result in significant tax savings. As a result, it is strongly advised that you seek the advice of your local accountant, who will be able to prepare your CGT computations, claim any reliefs that you may be entitled to, and calculate any liability that may be due.
Stocks, bonds, and precious metals are examples of common assets that can be subject to Capital Gains Tax (CGT) when sold.
The legislation governing CGT is extremely complicated. There are numerous tax breaks and exemptions that can result in significant tax savings. As a result, it is strongly advised that you seek the advice of an experienced team like ours who will be able to prepare your CGT computations, claim any reliefs that you may be entitled to, and calculate any liability that may be due.
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