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Wednesday, March 23, 2011

Minimizing Capital Gains Taxes

Six tips show you how.
March 21, 2011
by Alan Haft

March is one of my favorite months of the year. Winter’s just about over, 
NCAA March Madness is around the corner, the NBA the playoffs are coming up, 
flowers are getting ready to bloom and topping the list is the fact that
most of us get to spend time preparing to pay taxes.
How great is that?
Although I’m certain the government is going to put our tax payments
to good use, I prefer to minimize the amount I pay and that’s why I pay 
attention to how I might lower them, especially on things such as 
capital gains.
Capital gains are certainly nothing new to CPAs but to many clients, 
capital-gains distributions remain one of the great mysteries of 
accounting. For this reason I thought a quick column on what they 
are and how to potentially reduce them could be of some help.

The article is targeted toward tax preparers but is clear enough for most individual taxpayers who might have capital gain issues.

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