What time is Donald Trump's inauguration as President? Who is attending and all you need to know about the schedule as he takes office in 2017. US President-elect Donald Trump will take office on January 20. Here are the traditions and quirks of the day - plus how to watch the Inauguration in the UK.
The election to pay tax at the rate of 5.85% does not apply to items of income taxed at 12% (short-term capital gains and gains on collectibles and pre-1996 installment sales.). 1  M.G.L. 2  Chapter 62, Section 4 as amended by St. 2000, c. 343, s. 3  1; as amended by St. 1999, c. 127, ss.
For those in the 25 to 35% tax brackets, the capital gains tax is 15%. For the wealthiest citizens who fall into the 39.6% income tax bracket, the capital gains rate is still only 20%. Assume that, in the example above, your $5,000 in investment income is from long-term investments held longer than a year. In this case, your tax bracket as an individual would still be 25%, but just for the $60,000, on which you would owe $10,793.25.