The Palm Beach Post from West Palm Beach, Florida on November 12, 1968 · Page 14
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The Palm Beach Post from West Palm Beach, Florida · Page 14

West Palm Beach, Florida
Issue Date:
Tuesday, November 12, 1968
Page 14
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1 1 Palm Beach Post, Tuesday, Nov. 12, 1968 jazz ballet- for teenagers Investors Eye Capital Gains, Losses GRACE KAYWELL The "wash sale' rule ap- Tue. & Fri. 5-4 p.m. ENROLL NOW Begins NOV. 12 Call Mr. Holland 832-5194 Thus the NEW YORK Many investors probably are having housecleaning thoughts. This is the season to nail down capi- plies only to losses, investor can sell a i. in the same company shortly afterward. Finally, the taxpayer must consider the income tax surcharge in tax planning. stock, se- buv shares cure his profit and 0 A HEARING LOSS IS A CLOSED DOOR Open that door and enjoy your friends more tal gains or to sweep away losses. " ' Most" investors know, or should know, the basic considerations that short-term gains on assets held less than six months are subject to income tax at regular rates. However, assets held more than six months and then sold qualify for more favorable treatment as long-term gains. The highest effective rate on-long-term gains is 25 per cent. Most taxpayers can count on paying for ) per cent of the gain, whatever their tax bracket. Long term capital gains apply to most types of assets except items such as inventory held primarily for sale to customers and for certain copyrights, artistic works, etc. Art objects that have appre- mm7 "Clv Griffin Show HEARING LOSS? f) SEE YOUR DOCTOR y HEARING AID RECOMMENDED SEE US ciated in value and are sold qualify for capital gains treatment if they meet the holding period test. However, the taxpayer might find the size of his reported gain challenged by the Internal Revenue Service. There is one asset a family residence on which a capital gain Is recognized under I.R.S. rulings, but capital losses on the sale of one's house generally cannot be taken. Also, if a house is bought to replace a house sold, some or all of the capital gain can be postponed. Brokerage firms are among the best sources of information on capital gains procedures. Many offer brochures outlining the basic tax rules and offering suggestions for balancing gains against losses. Brokers believe that the sophisticated investor generally sells well before the year-end because he has no psychological block about holding stocks from which they have taken losses. The less sophisticated investor tends to wait to take his MOORE'S HEARING AID SERVICE 202 S. Olive Ph. 832 4322 gains or losses until almost the last moment. Often prices in November and December move lower under the impact of such selling. For this last-minute doer, there is a drawback. He gets lower prices if he holds the securities late in December and then finds It might cost him more to reinvest when the new year begins. Some points to remember are that the holding period must be six months plus one day for a gain to qualify as long-term. The holding period does not begin until the day after the purchase date but it includes the day of the sale. Example: stock bought Jan. 15 would qualify If sold on or after July 16. Or, property bought April 30 would become long-term if sold Nov. 1 or afterward. To figure his status, an investor should add up all long-term gains and all long-term losses. The difference is either net long-term gain or loss. He also should add up short-term gains and losses to determine a net short-term gain or loss. Be wary of "wash sales." Often a investor thinks he will sell a stock to take a loss on it, then buy it back when it again becomes attractive. However, the I.R.S. won't let him take the loss if he buys substantially identical stock within 30 days before or after the original sale. It is advisable to wait 31 days at least before rebuying a stock, or investing in a company in a similar business. ALICE BEAUTY SALON RICHARD'S 5 en LANOLIN WAVE Q nuin)iut lUUNIT COURTHOUSE 337 3RD STREET, W. PALM BEACH 832-7684 P F.RST IN , DISCOUNTS F l Ifrnraimra fin 3 dDCMJM SHOP SEARS MON THRU SAT. 9:30 AM TO 9:30 PM 315 CLEMATIS STREET WEST PALM BEACH Open Mon. & Fri. Evenings Open Daily Mon. Thru Sat. Your Decorating Dollars with Sears BATH SIZE - REG. 23t DIAL SOAP GOLD DUAL-PURPOSE FURNITURE 22 OZ. . REG. 47 CHIFFON LIQUID & c SAVE s40 3-pc. Vinyl Room Group 21988 Vt OZ. - REG. 49 t BLISTEX FOR COLD SORES 4 OZ. - REG. 1.13 SENSODYNE TOOTHPASTE -Ke(juh.r $2.V.. 83-in. Sofa Bed Lounge Chair Reeliner Clean modern lines in a room for sitting, reclining, and sleeping! Each piece has an easy-care supported vinyl cover with the rich look, of leather. Comfortable Serofoam polyure-thane cushioning. n Save An Extra $20 on 219.95 FOAM CUSHION DIVAN BED 88 199 A full size luxury-look sofa by day ... a comfortable double bed by night. Foam latex mattress and cushions. Handsome Tweed cover in fashion colors. 10 OZ. - REG. 84 t POLIDENT Denture Cleanser 100'$ - REG. 73 t BAYER TABLETS 13' NO MONEY DOW on Sears Emy Payment Plan SAVE $20 YOL'H CHOICE 60'$ - REG. 1.19 V2 LB. . REG. 2.79 N0D0Z AYDS ASPIRIN DIET CANDY choc. fudge choc. mint vanilla caramel STUDIO RED 99 KfijJ Q 88 89 wit The versatile, practical studio- I Chain Lamps Globe in preen, blue or gold colors. Cylinder with red, blue, green or gold velour shade. Decorative modern way to light up drab arras. Regular low price 1 1 .MB each . . . sae! iiungr . . . and this one makes a bed even larger than normal "Full" siie. Innerspring unit with smart print rover similar to illustration. Tho bark bolsters. Save S20 W! P'j.'- Itrpular 109.95 SALE DAYS THRU SUNDAY You can't do Better Than Sears For Quality and Savings FORT LAUDERDALE 303 S. ANDREWS N. MIAMI 1 7852 BlSCAYNE BOULEVARD WEST PALM BEACH 3IS CLEMATIS ST Sears SHOP AT SEARS AND SAVE Satisfaction Guaranteed or Your Money Back STOKE IIOl'KS Shop 9:30 am to 9:30 pm Monday Thru Saturday Now Til Christmas 302) S. Dixie llwy. West Palm IScach hike pakkim; SEARS, ROEBUCK AND CO. 4

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