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In running our MISSION, Members will strive to: Protect human life as the very best priority. keep up with the highest ethical and legal standards. Treat all those that have dignity. NJ taxes capital gains like ordinary income, Which based on your tax bracket could be as high as 8.97%. I wonder if what an accountant means is that you've been taking depreciation for many years, and consequently the tax cost basis is now quite low perhaps near $0. So now having to pay 8.97% on the distinction between the selling price and your tax cost basis is equivalent to paying 78% of the actual gain (Meaning the differece between selling price and what you originally paid for the property) is usually what he means? recollect: When you depreciate a property you are merely delaying taxes, And eventually you spend up typically in capital gains when you sell the property (Unlesss you roll the proceeds into another possession),
Dim lamp. that your RIOT, precisely you don have a clue. Turn off conservative radio where companies Limbaugh exude smelly nonsense from all oriifices, and
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October 30th, 2014 at 01:43 pm