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Tuesday Tax Tips 3/19/13 @ 6pm
The 2010 Tax Relief Act extended the zero tax rate on qualified capital gains and dividends for your 2012 tax return. The law allows you to receive dividends and take profit on the sale of long-term assets you've owned and pay no tax until you are in the 25% tax bracket. To qualify for the zero rate you must have owned the assets over a year and be in the 10% or 15% tax brackets. For 2012, the 25% tax bracket starts at taxable income greater than $68,000 for married and $34,000 for single filers.