Confiscator Tax Rate On My Short Term Capital Gains For 1999?
A: -I have no idea what a confiscator tax is, but short term capital gains are taxed just like wages or interest or alimony. -You could sell stock at a loss to off-set the gains, or hold the investments for a longer time period (but it sounds like you already sold). Greater than 12 months (366 days) will get you a 20% maximum capital gains tax rate. A savings of between 8% and 19.6% below regular tax rates, which short term gains fall (12 months or less). Do you see how after-the-fact tax planning works? You have only two options. The second one is to pay the tax.
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