You say...
"So we all had better hope EDig goes to $10 in the next month and a half or we will be facing a tax that will be very close to an ordinary income rate."...
NOT if your income is $250,000 and under for the taxable year...
In short there will be no change in your capital gains tax...
So, if you have 1 million shares of EDIG in your SEP/IRA account, and it goes to $10 in two months from today, you can cash it out all out and have 10 million in your account, and just draw out no more than $250,000 of it for 2009. You pay the current Capital Gains Tax and no more...
Of course if you choose to draw all 10 million out and go to Bahamas then you will pay the NEW capital gains rate, which should be less than the 1 trillion dollar Bail Out which you and the rest of us are sadlled with under the current economic policies...
Gil...
Gil...
