Monday, May 03, 2010

Capital Gains rates about to Jump

I guess it is not a surprise that the top tax rate on dividends may surge...

The Senate Budget Committee recently passed a budget resolution that would nearly triple the top tax rate on dividends from 15% to 39.6%. President Barack Obama had proposed a 20% tax rate on dividends in his 2011 budget. Additionally, the health care legislation includes a 3.8% surcharge on dividends and other investment income.