AAII Tax Guide Delayed
Our 2010 tax guide has been delayed while we wait for Congress to act.
As you may know, Congress adjourned its fall session without making a decision about whether to extend all or some of the Bush tax cuts. This left several of next year’s tax rates in doubt.
Among the rates in question are dividend and capital gains taxes. The top rate on qualified dividends is currently 15%, but dividends could be taxed at ordinary income rates next year if nothing is done. (The top nominal rate is 39.6%.) Long-term capital gains have a current top rate of 15%, but could reset to 20%.
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