Over 40% Capital Gains Rate Increase!

The Capital Gains rate is going up Jan. 1, 2013 from 15% to 25%; that's an increase of over 40%! This leaves little time for people who are holding on to assets to sell and make the most from this extremely low, current rate and take advantage of the hot real estate market, atleast in most of California. Those of you with long term real estate or stock holdings may want to consider selling. The capital gains rate will be applied from the basis (purchase price) to the selling price. For example, if you bought some real estate or stock 15 years ago for $100K and the current market is $200K, you would be taxed at 15% this year on the $100k profit or $15,000. If you are to sell that property next year, you'd pay $25,000 in tax. This also applies to stock. Call or write me for more info.