President Obama wants inheritance and capital gains tax changes to raise the U.S. estate tax rate to the industrialized world's highest — 65% with state taxes. Die once get taxed twice...at the highest world rate. Thank you Obama...NOT!
If you sell one of these assets – such as vehicles, stocks, bonds, collectibles, jewelry, precious metals, or real estate – and you sell it at a gain, you’ll pay a capital gain tax rate on some of the proceeds. Capital gain rates can be just as high as regular income taxes. Therefore, it’s worth exploring every possible strategy to keep these taxes at a minimum.