Were you 65 years old at the end of 2003? If you did not itemize your deductions, you were entitled to as much as an additional $1,150 in your standard deduction. Suppose you did not turn 65 until January 1, 2004. No problem – you were still 65 last year. The Internal Revenue Service considers you to turn […]
Archive | Insights & Perspective
Rolaids, Please!
As you know, Congress recently passed the Jobs & Growth Tax Relief Reconciliation A.ct of 2003. The word “Simplification” does not appear in the title and is not an oversight. One of the areas of ”relief” in the new tax law relates to capital gains. The new maximum capital gain tax rates (only ten of them now • 5%, 75%, […]
