900 N. Kings Highway, Cherry Hill, New Jersey 08034
856.667.4100 · 215.563.0276 · Fax: 856.667.3652

The Online Advisor

December 2007

What's New in Taxes
  
Big tax changes ahead


Beginning in January 2008, the tax rate on certain dividend income and long-term capital gains goes from 5% to 0% for taxpayers in the bottom two regular tax brackets (10% and 15%). If you're a single filer with income less than about $32,000 or married with income less than about $64,000, the new zero long-term capital gain rate could apply to you. In that case, you may want to postpone planned sales until 2008.

Also in 2008, the "kiddie tax" expands to cover children up to age 19. For full-time students, the age limit will be even higher - up to age 24. Now is the time to review your child's investments and time planned sales to avoid any adverse effect the new rules could have on your situation.



For details or for assistance with your tax planning, give our office a call.

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