Tuesday, May 30, 2006

TIPRA

New tax law means big changes in retirement planning: "The Jobs and Growth Tax Relief Reconciliation Act of 2003 established a maximum tax rate of 15% for long-term capital gains and qualifying dividend income. For taxpayers in the lowest two tax brackets, the maximum tax rate is 5% and will drop to 0% in 2008. These rates were scheduled to expire after 2008, but TIPRA extends the rates that apply in 2008 for two years, through 2010, according to Forefield, a Marlboro, Mass.-based financial-education firm..." - MarketWatch.com

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