Thursday, November 1, 2007
Thursday, October 25, 2007
Fwd: Google Groups: You've created the new group Client USDA
---------- Forwarded message ----------
From: noreply@googlegroups.com <noreply@googlegroups.com>
Date: Oct 25, 2007 4:44 PM
Subject: Google Groups: You've created the new group Client USDA
To: timinsane@gmail.com
Hello timinsane@gmail.com,
Congratulations: you've successfully created your Google Group, Client USDA.
Here are the essentials:
* Group name: Client USDA
* Group home page: http://groups.google.com/group/client-usda?hl=en
* Group email address client-usda@googlegroups.com
And here are links to a few more Google Group-related goodies:
* Change group settings: http://groups.google.com/group/client-usda/manage?hl=en
* Invite more users: http://groups.google.com/group/client-usda/manage_members_add?hl=en
If you have questions about this or any other group, please visit the Google
Groups Help Center at http://groups.google.com/support?hl=en.
Enjoy your group and make us proud!
The Google Groups Team
Wednesday, October 3, 2007
Benefits - Sent Using Google Toolbar
Benefits
 | Google Jobs |
 | BenefitsGive the proper tools to a group of people that want to make a difference, and they will. Google's founders often state that the company is not serious about anything but search. They built a company around the idea that work should be challenging and the challenge should be fun. To that end, Google's culture is unlike any in corporate America, and it's not because of the whimsical lava lamps and large rubber balls, or the fact that one of the company's chefs used to cook for the Grateful Dead. In the same way Google puts users first when it comes to online services, Google puts employees first when it comes to daily life in its offices. "The goal is to strip away everything that gets in our employees way. We provide a standard package of fringe benefits, but on top of that are first-class dining facilities, gyms, laundry rooms, massage rooms, haircuts, carwashes, dry cleaning, commuting buses - just about anything a hardworking employee engineer might want. Let's face it: programmers want to program, they don't want to do their laundry. So we make it easy for them to do both." Eric Schmidt, CEO Google Benefits Philosophy: We strive to be innovative and unique in all services we provide both to customers and employees, including our benefits and perks offerings. We realize and celebrate that our employees have diverse needs, and that this diversity requires flexible and individually directed support. Our priority is to offer a customizable program that can be tailored to the specific needs of each individual, whether they enjoy ice climbing in Alaska, want to retire by age 40, or plan to adopt 3 children. • Health and wellness Health and wellness*
Retirement and savings*
Time away*
Benefits . . .beyond the basics*
Benefits . . . way beyond the basics*
Videos
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 | ©2007 Google - Home - About Google |
Friday, September 14, 2007
Fwd: The End is Near...September 18th
---------- Forwarded message ----------
From: Ministry <eblast@13thplanet.com>
Date: Wed, 12 Sep 2007 14:43:36 -0400
Subject: The End is Near...September 18th
To: tim@unlockcell.com
From: Ministry <eblast@13thplanet.com>
Date: Wed, 12 Sep 2007 14:43:36 -0400
Subject: The End is Near...September 18th
To: tim@unlockcell.com
If you cannot view the images above, please view this full email here
This email has been sent to tim@unlockcell.com as a member of
the 13th Planet Mailing List.
If you no longer wish to receive emails from 13th Planet,
please UNSUBSCRIBE HERE
2006 All Access Today,Inc. All rights reserved.
Wednesday, September 12, 2007
Fwd: Incentive Stock Options - Please print for me
---------- Forwarded message ----------
From: Janine Petrarca <j9girl@gmail.com>
Date: Wed, 12 Sep 2007 07:09:05 -0400
Subject: Incentive Stock Options - Please print for me
To: timinsane@gmail.com
From: Janine Petrarca <j9girl@gmail.com>
Date: Wed, 12 Sep 2007 07:09:05 -0400
Subject: Incentive Stock Options - Please print for me
To: timinsane@gmail.com
*Incentive Stock
Options*<http://turbotax.intuit.com/tax_help/incentive_stock_options/article#a2>
Intuit Products & Services By Category Intuit
TurboTax<http://turbotax.intuit.com/>Quicken<http://quicken.intuit.com/>QuickBooks<http://quickbooks.intuit.com/>
Payroll
Software <http://payroll.intuit.com/index.jhtml>
ProSeries<http://www.proseries.com/>
*See All Products* <http://www.intuit.com/products/> Personal
Products<http://www.intuit.com/personal/>Business
Products<http://www.intuit.com/business/>For
Accountants<http://accountant.intuit.com/>
Intuit.com <http://www.intuit.com/>
Careers<http://www.intuit.com/about_intuit/careers/>Company
Values<http://www.intuit.com/about_intuit/operating_values/>
<http://www.intuit.com/><http://turbotax.intuit.com/tax_help/incentive_stock_options/article#>
[image: TurboTax - Income Taxes, Tax Preparation and Tax Return Software]
<http://turbotax.intuit.com/;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K> My
Account<http://turbotax.intuit.com/tax_products/my_account/index.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>|
Shopping
Cart<http://turbotax.intuit.com/commerce/checkout/shoppingcart.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>
[image: Search] <http://intuitsearch.intuit.com/search>
- Online Products<http://turbotax.intuit.com/tax_products/online_products.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>
- Desktop Products<http://turbotax.intuit.com/tax_products/desktop_products.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>
- Business Products<http://turbotax.intuit.com/tax_products/business_products.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>
- Tax Tips<http://turbotax.intuit.com/tax_help/;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>
- Support<http://support.turbotax.intuit.com/?lid=site_header&supporthome=core>
Home<http://turbotax.intuit.com/;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>
> Tax Tips<http://turbotax.intuit.com/tax_help/;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>
> Incentive Stock Options
[image: Kiplinger brought to you by TurboTax]
- Print
- Email
- Digg<http://www.digg.com/submit?phase=2&url=http%3A%2F%2Fturbotax.intuit.com%2Ftax_help%2Fincentive_stock_options%2Farticle&title=Incentive+Stock+Options&bodytext=I+have+some+Incentive+Stock+Options%2C+but+I+hear+some+people+got+burned+exercising+their+options.+How+can+I+avoid+tax+problems+when+I+exercise+mine%3F&topic=business_finance>
- Netscape<http://www.netscape.com/submit/?U=http%3A%2F%2Fturbotax.intuit.com%2Ftax_help%2Fincentive_stock_options%2Farticle&T=Incentive+Stock+Options>
- reddit<http://www.reddit.com/submit?url=http%3A%2F%2Fturbotax.intuit.com%2Ftax_help%2Fincentive_stock_options%2Farticle;title=Incentive+Stock+Options>
Incentive Stock Options*I have some Incentive Stock Options, but I hear
some people got burned exercising their options. How can I avoid tax
problems when I exercise mine?*
A stock option grants you the right to purchase a certain number of shares
of stock at an established price. There are two types of stock options --
incentive stock options and non-qualified stock options -- and they are
treated very differently for tax purposes.
Incentive stock options are one of the most popular types of incentives used
by companies to attract and keep executives. In most cases, these options
provide more favorable tax treatment than *non-qualified* stock options,
which are generally given to rank-and-file employees.
If you have been granted stock options, make sure you know which type of
options you received. If you are not sure, take a look at your option
agreement or ask your employer. The type of options should be clearly
identified in the agreement.
Why Are Incentive Stock Options More Favorable?
When you exercise incentive stock options, you buy the stock at a
pre-established price, which could be well below actual market value. The
advantage of an ISO is you do not have to report income when you receive a
stock option grant or when you exercise that option. You only need to report
the taxable income when you *sell* the stock. And, depending on how long you
own the stock, that income could be taxed at capital gain rates of 15
percent or less -- a lot lower than your regular income tax rate.
With ISOs, your taxes depend on the dates of the transactions (that is, when
you exercise the options to buy the stock and when you sell the stock). The
price break between your grant price you pay and the fair market value on
the day you exercised the options to buy the stock is known as the *bargain
element*.
There is a catch with incentive stock options, however: you do have to
report that bargain element as taxable compensation for Alternative Minimum
Tax (AMT) purposes when you exercise the options (unless you sell the stock
in the same year).
With non-qualified stock options, you must report the price break as taxable
compensation in the year you exercise your options, and it's taxed at your
regular income tax rate.
How Transactions Affect Your Taxes
Incentive Stock Option transactions fall into five possible categories, each
of which may get taxed a little differently. You can:
1. Exercise your option to purchase the shares and hold
them.<http://turbotax.intuit.com/tax_help/incentive_stock_options/article#a1>
2. Exercise your option to purchase the shares, then sell the shares
the same day or within the same
year.<http://turbotax.intuit.com/tax_help/incentive_stock_options/article#a2>
3. Sell shares less than a year after you purchased
them.<http://turbotax.intuit.com/tax_help/incentive_stock_options/article#a3>
4. Sell shares at least one year and a day after you purchased them,
but less than two years since your original grant
date<http://turbotax.intuit.com/tax_help/incentive_stock_options/article#a4>.
5. Sell shares at least one year and a day after you purchased them,
and at least two years since the original grant
date<http://turbotax.intuit.com/tax_help/incentive_stock_options/article#a5>.
Each transaction has different tax implications. The first and last are the
most favorable; the middle three are the least favorable. The time at which
you sell determines how the proceeds are taxed.
If you can wait at least a year and a day after you purchase the stocks, and
at least two years after you were granted the option, any profit on the sale
-- the difference between the bargain price you paid for the stock and what
you sold it for -- is treated as a long term capital gain, so it is taxed at
a lower rate than your regular income. This is the most favorable tax
treatment, because long term capital gains are taxed at a maximum 15% (or as
low as 5% or if you're in the 10% or 15% income tax bracket) compared to
ordinary income tax rates which may be as high as 35%.
These sales are called "qualifying dispositions" because they qualify for
favorable tax treatment. No compensation is reported to you on your Form
W-2, so you do not have to pay taxes on the transaction as ordinary income
at your regular tax rate. Category 5 is a qualifying disposition.
Unfortunately, if you are impatient or need the money, you may sell the
stocks before they meet the criteria for favorable capital gains treatment.
In that case, the sales are considered "disqualifying dispositions," and you
may end up paying taxes on part of the proceeds of the sale at your ordinary
income tax rate, which could be as high as 35%. When you sell the stock two
years or less from the offering date, known as the grant date, or one year
or less from the exercise date, which is when you purchase the stock, the
transaction is a disqualifying disposition. In that case, that compensation
should be reported on your Form W-2. The reported amount is the bargain
element, which is the difference between what you paid for the stock and its
fair market value on the day on the day you bought it. But if your bargain
element is more than your actual gain from the sale of the stock, then you
report your compensation as the lesser amount of the actual gain. The
reported compensation is taxed as ordinary income. (Categories 2, 3, and 4
are disqualifying dispositions).
1. Exercise your option to purchase the shares and hold them.
Grant date
12/31/2001
Exercise date
6/30/2006
Exercise price
$25
Market price on 6/30/2006
$45
Number of shares
100
Bargain element
$2,000
You do not report anything on Schedule D (Capital Gains and Losses) because
you have not sold the stock. Your employer will not include any compensation
related to your options on your Form W-2, either.
But you will have to make an adjustment for the Alternative Minimum Tax
(AMT) that equals the bargain element, which is $2,000 ($45 - $25 = $20; $20
x 100 shares = $2,000). Report this amount on Form 6251, Alternative Minimum
Tax, line 13.
2. Exercise your option to purchase the shares, and then sell those shares
in the same year.
Grant date
12/31/2005
Exercise date
06/30/2006
Exercise price
$20
Sale date
06/30/2006
Sale price
$45
Number of shares
100
Bargain element
$2,500
The bargain element is the difference between the exercise price and the
market price on the day you exercised the options and purchased the stock
($45 - $20 = $25; $25 x 100 shares = $2,500). This amount should already be
included in the total wages reported in Box 1 of your Form W-2 because this
is a disqualifying sale (meaning you are disqualified from taking it as a
capital gain and being taxed at the lower capital gains rate). If this
amount is not included in Box 1 of Form W-2, add it to the amount you're
reporting on Form 1040, line 7.
Report the sale on Schedule D, Part I as a short-term sale. The sale is
short-term because not more than one year passed between the date you
acquired the actual stock and the date you sold it. For reporting purposes
on Schedule D:
- The date acquired is 6/30/2006
- The date sold is also 6/30/2006
- The cost basis is $4,500.This is the actual price paid per share
times the number of shares ($20 x 100 = $2,000), plus any amounts already
reported as compensation income on your tax return ($2,500)
- The sale price is $4,500 ($45 times the number of shares, 100). This
should match the gross amount shown on your Form 1099-B you receive from
your broker after the end of the year.
You end up reporting no gain or loss on the transaction.
Because you exercised the options and sold the stock in the same year, you
do not need to make an adjustment for Alternative Minimum Tax purposes.
3. Sell shares less than a year after you purchased them.
Grant date
12/31/2004
Exercise date
12/31/2005
Exercise price
$20
Market price on 12/31/05
$45
Sale date
06/15/2006
Sale price
$30
Number of shares
100
Bargain element
$2,500
Actual gain from sale
$1,000
Unlike the previous example, the compensation is calculated as the lesser of
- The bargain element, that is, the difference between the exercise
price and the market price on the day you exercised the options and
purchased the stock ($45 - $20 = $25; $25 x 100 shares = $2,500)
- The actual gain on the sale of the stock ($30 - $20 = $10; $10 x 100
shares = $1,000).
In this example, the amount that is considered compensation to you is
$1,000, your actual gain, even though your bargain element ($2,500) is
higher. This amount may be included in the total wages shown in Box 1 of the
Form W-2 from your employer because this is a disqualifying sale, meaning
that it does not qualify for treatment as a capital gain (at the lower
capital gains rates). If this amount is not included in Box 1 of Form W-2,
you must add it to the amount you're reporting on Form 1040, line 21.
In order to be taxed only on the lesser of the two calculations, ($2,500 vs.
$1,000 in our example), the sale cannot be any of the following:
1. A wash sale: if you repurchase shares in the same company (such as
through an employee stock purchase plan) within 30 days before or after the
sale of the shares obtained from the exercise of the option, some or all of
the sale will be considered a wash sale. You will not be allowed to report
the lesser calculation as income for shares sold in a wash sale. You must
report the full $2,500 as income.
2. A sale to a related party: if you sell the shares to a related
party (a member of your family, or a partnership or corporation in which you
have more than a 50 percent interest), you must report the full $2,500 as
income.
3. A gift: if you gave the stock to an individual or a charity, rather
than selling the shares, you must report the full $2,500 as income.
Report the sale on Schedule D, Part I, as a short-term sale. It's considered
short-term because no more than one year passed between the date you
acquired the stock and the date you sold it. For reporting purposes on
Schedule D:
- The date acquired is 12/31/2005
- The date sold is 6/15/2006
- The sale price is $3,000. This is the price at the date of sale
($30) times the number of shares sold (100). This amount should be reported
as the gross amount on Form 1099-B that you'll receive from the broker that
handled the sale.
- The cost basis is $3,000. This is the actual price paid per share
times the number of shares ($20 x 100 = $2,000) plus the compensation amount
reported on your Form W-2 ($1,000).
- The resulting net gain is zero.
Because this sale did not occur in the same year as the year you exercised
the options, you have to make an adjustment for AMT. When you originally
purchased the stock, you should have reported an income adjustment for AMT
purposes in that year. Find out if this was the case by looking at line 13
of Form 6251 (Alternative Minimum Tax) for the year that you purchased the
shares. In our example, the amount that should have been reported in that
year was the bargain element ($45 - $20 = $25) times the number of shares
(100), which equals $2,500.
So what do you do this year? It's not as simple as reporting the bargain
element on Form 6251, line 13, as a *negative* amount to reverse the AMT
effect you incurred in the year you purchased the stock. We explain what you
need to do in our section on Reporting an Incentive Stock Option Adjustment
for the Alternative Minimum
Tax<http://turbotax.intuit.com/tax_help/incentive_stock_options/article#re>
.
4. Sell shares at least one year and a day after you purchase but less than
two years after the grant date
Grant date
01/01/2005
Exercise date
02/01/2005
Grant price
$20
Market price on 02/01/2004
$45
Sale date
06/15/2006
Sale price
$85
Commissions paid at sale
$10
Number of shares
100
Bargain element
$2,500
Net gain
$3,990
The bargain element is calculated as the difference between the exercise
price and the market price on the day you exercised the options and
purchased the stock ($45 - $20 = $25; $25 x 100 shares = $2,500). This
amount should be included in the total wages shown in Box 1 of the Form W-2
from your employer because this is a disqualifying sale (meaning that your
gain does not qualify for capital gains treatment for which the rates are
lower than for ordinary income). If this amount is not included in Box 1 of
Form W-2, you must add it to the amount you're reporting on Form 1040, line
7.
You must report the sale of the stock on Schedule D, Part II as a long-term
sale. It is long term because more than one year passed between the date you
acquired the stock and the date you sold it. For reporting purposes on
Schedule D:
- The date acquired is 02/01/2005.
- The date sold is 6/15/2006.
- The sales price is $8,490. This is the price at the date of sale
($85) times the number of shares sold (100), or $8,500. We then subtract the
commissions paid on the sale (in this example $10), resulting in $8,490.
This amount should be reported as the gross amount on Form 1099-B that
you'll receive from the broker that handled the sale.
- The cost basis is $4,500. This is the actual price paid per share
times the number of shares ($20 x 100 = $2,000) plus the compensation amount
reported on your Form W-2 ($2,500).
- The resulting net gain is $3,990.
Because this sale did not occur in the same year as the year you exercised
the options, you have to make an adjustment for AMT. When you originally
purchased the stock, you should have reported an income adjustment for AMT
purposes in that year. Find out if this was the case by looking at line 13
of Form 6251 (Alternative Minimum Tax) for the year that you purchased the
shares. In our example, the amount that should have been reported in that
year was the bargain element ($45 - $20 = $25) times the number of shares
(100), which equals $2,500. So what do you do this year? You will have to
report an adjustment on Form 6251 again, but it may or may not be the
reverse of the amount you reported in the year of exercise. We explain how
you calculate your AMT adjustment in the section called Reporting an
Incentive Stock Option Adjustment for the Alternative Minimum
Tax.<http://turbotax.intuit.com/tax_help/incentive_stock_options/article#re>
5. Sell shares at least one year and a day after you purchase and at least
two years after the grant date
Grant date
01/01/2004
Exercise date
02/01/2005
Grant price
$20
Market price on 02/01/2005
$45
Sale date
06/15/2006
Sale price
$85
Commissions paid at sale
$10
Number of shares
100
This sale is a qualifying sale, because more than two years passed between
the grant date and the sale date, and more than one year passed between the
exercise date and the sale date. Because this is a qualifying sale, the Form
W-2 you receive from your employer will not report any compensation amount
for this sale.
Report the sale on Schedule D, Part II as a long-term sale. It is long term
because more than one year passed between the date you acquired the stock
and the date you sold it. For reporting purposes on Schedule D:
- The date acquired is 02/01/2005
- The date sold is 06/15/2006
- The sales price is $8,490. This is the price at the date of sale
($85) times the number of shares sold (100), or $8,500. We then subtract any
commissions paid on the sale (in this example $10), resulting in $8,490.
This amount should be reported as the gross amount on Form 1099-B that
you'll receive from the broker that handled the sale.
- The cost basis is $2,000. This is the actual price paid per share
times the number of shares ($20 x 100 = $2,000). Unlike our previous
examples, because you didn't report any bargain element as compensation on
your Form W-2, you don't have to add any compensation amount to your cost.
- The net long-term gain is the difference of $6,490.
Because this sale and the exercise of the options didn't occur in the same
year, you must make an adjustment for AMT. When you originally purchased the
stock, you should have reported an income adjustment for AMT purposes in
that year. Find out if this was the case by looking at line 13 of Form 6251
(Alternative Minimum Tax) for the year that you purchased the shares. In our
example, the amount that should have been reported in that year was the
bargain element ($45 - $20 = $25) times the number of shares (100), which
equals $2,500. So what do you do this year? We'll explain how you calculate
your AMT adjustment in the section called Reporting an Incentive Stock
Option Adjustment for the Alternative Minimum
Tax.<http://turbotax.intuit.com/tax_help/incentive_stock_options/article#re>
Caution
Your employer is not required to withhold income or FICA taxes when you
exercise an incentive stock option since there is no tax due (under the
regular tax system) until you sell the stock. At that point, you might not
even still be working for the employer who granted you the option. Although
no tax is withheld when you exercise an ISO, you can be sure that tax will
be do when you sell the stock, and part of the proceeds of the sale will be
treated as ordinary income instead of tax-favored capital gains if you fail
to hold the stock long enough to qualify for capital gains treatment. Be
sure to plan for that tax bill when you consider the consequences of selling
the stock.
We recommend that you refer to your stock option plan document or consult
your Human Resources Department for more information about your company's
options plan.
Reporting an Incentive Stock Option Adjustment for the Alternative Minimum
Tax
If you buy and hold, you will report the bargain element as income for
Alternative Minimum Tax (AMT) purposes that equals the bargain element.
Report this amount on Form 6251, Alternative Minimum Tax, line 13.
When you sell stock acquired with ISOs, you usually have to report an
adjustment for AMT purposes in the year you exercise the options. And when
you sell the stock in a later year, you must report an adjustment. But what
is the adjustment you should report? It would seem that the adjustment
should be the reverse of the adjustment you reported in the year of option
exercise, but that's not always the case.
In categories 3, 4 and 5 above, we indicated that an adjustment should be
reported on Form 6251 (Alternative Minimum Tax) in the year the options were
exercised. That adjustment is actually added to the stock's cost basis for
alternative minimum tax purposes (but not for regular tax purposes).
So, in example 5, rather than using a cost basis of $2,000 for AMT, a cost
basis of $4,500 ($2,000 plus $2,500 of the AMT adjustment from the year of
exercise) should be used. This results in a $3,990 gain for AMT purposes
from the sale, which differs from the regular tax gain of $6,490 by exactly
$2,500. Is this the adjustment that should be reported on Form 6251 for AMT
purposes? Not exactly. It's pretty complicated and is better left to tax
preparation software like TurboTax. But if you're really curious how it
works, here is what you should do:
1. Get a blank Schedule D (Capital Gains and Losses) form.
2. Fill out this Schedule D, using alternative minimum tax numbers for
all of your capital asset transactions instead of regular tax numbers. Many
of the numbers you'll use for AMT will be the same as those used for regular
tax purposes, but some may be different.
3. Compute the schedule down through line 18.
4. Compare the results from your Schedule D using AMT numbers to those
from your *regular tax* Schedule D. The difference between the two
amounts is the amount that you should report on line 16 of Form 6251.
5. When you compare results on the two Schedule D forms, use this
guideline: If Schedule D shows no amount on line 18, use line 17 as the
comparing amount (it'll be a positive number). If Schedule D does show an
amount on line 18, use that amount (it'll be a negative number).
6. Be careful if one Schedule D shows a positive number and the other
Schedule D shows a negative number. The difference between the two will be
larger than either number. For example, if your regular tax Schedule D shows
a positive $12,000 and your AMT Schedule D shows a negative -$3,000, the
difference between the two (and the amount you should report on Form 6251)
is actually -$15,000.
7. If the regular tax Schedule D amount is greater than the AMT
Schedule D amount, you have a negative adjustment; if the reverse holds
true, you have a positive adjustment.
In many cases the amount of the difference will be exactly the same as the
negative of the AMT adjustment you reported in the year of exercise. There
are situations in which this won't be the case, however. Consider this
example:
Assume you exercised options a few years ago and had an incentive stock
option adjustment of $40,000. You sell that stock this year at a regular tax
gain of $10,000, but because your stock's cost basis for AMT is $40,000
higher than the cost basis for regular tax, you have a net loss for AMT
purposes of $30,000 ($10,000 - $40,000). This is fine, except for the fact
that deductible net capital losses such as this one are limited to $3,000
($1,500 if you're married and filing separately from your spouse). This
limitation on deductible capital losses applies to computations for both
regular tax and the alternative minimum tax. So, while you'll report a
$10,000 gain for regular taxes, you'll report only a $3,000 loss for AMT
purposes. What do you enter on Form 6251 as an alternative minimum tax
adjustment? A negative $13,000 on line 16 (the difference between $10,000
regular tax gain and the -$3,000 AMT loss allowed). That is a far cry from
being able to report the entire $30,000 net capital loss for alternative
minimum tax purposes. Fortunately you'll be able to carry over the unused
portion of the capital loss for AMT purposes of $27,000 (the original
$30,000 AMT loss minus the $3,000 used this year).
In summary, it is important to take a look at the whole picture of your
capital gains and losses for AMT purposes when you sell stock that you
purchased via exercising incentive stock options. If the market turns on you
after you have exercised your options and the current value of your stock is
now less than the purchase price, you could be subject to the alternative
minimum tax on the higher purchase price, even if you don't sell the stock.
One way around that is to sell the stock in the same year that your bought
it, creating a "disqualifying" disposition. That way, you will not be
subject to the AMT and you would be subject to regular tax on the difference
between your grant price and the actual sales price. For example, assume you
exercised options at $3 a share on a day when the stock was selling for $33,
and the stock value later dropped to $25. If you sell the stock at $25
before the end of the year, you would be taxed at ordinary income tax rates
on $22 per share ($25-$3) and not be subject to the AMT adjustment at all.
It may be advisable to consult with a tax professional regarding the tax
treatment of your stock prior to a sale, as well as prior to an exercise of
options for which a large price break exists.
See IRS Publication 550: Investment Income and Expenses (Including Capital
Gains and Losses) and *Stock Options* in IRS Publication 525: Taxable and
Non-Taxable Income.
[image: Kiplinger brought to you by TurboTax] Back to
Top<http://turbotax.intuit.com/tax_help/incentive_stock_options/article#top>
Sign In
- Continue a 2006 Tax
Return<http://turbotaxweb.turbotaxonline.intuit.com/open/registration/SignIn.htm?customerSource=3468337910>
- Access Your Prior
Returns<http://turbotax.intuit.com/prior_year_returns/myturbotax_turbotax_vault.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>
- Check eFile
Status<http://turbotax.intuit.com/efile_status.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>
- My Downloads<https://turbotax.intuit.com/commerce/account/secure/login.jhtml?pagecontext=download>
Finish Your
Taxes Fast
*TurboTax Online products include free
eFile<http://turbotax.intuit.com/tax_products/turbotax_advantages/start_now_finish_faster.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>
.*
Get your biggest tax refund
guaranteed<http://turbotax.intuit.com/corp/guarantees.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>.
*Start today!*
- <http://turbotax.intuit.com/tax_products/learn_deluxe.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>
- <http://turbotax.intuit.com/tax_products/learn_premier.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>
- <http://turbotax.intuit.com/tax_products/learn_home_business.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>
Home<http://turbotax.intuit.com/;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>|
eFile<http://turbotax.intuit.com/tax_help/electronic_tax_filing_efile_faq/article;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>|
Taxes
Online<http://turbotax.intuit.com/tax_products/online_products.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>|
Tax
Software<http://turbotax.intuit.com/tax_products/desktop_products.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>|
Business
Tax Software<http://turbotax.intuit.com/tax_products/business_products.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>|
Tax
Tips<http://turbotax.intuit.com/tax_help/index.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>|
[image:
RSS] RSS<http://turbotax.intuit.com/rss/rss.xml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>|
Support
Center<http://support.turbotax.intuit.com/cgi-bin/turbotax.cfg/php/enduser/home.php?supporthome=core>
Site Index<http://turbotax.intuit.com/site_index.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>|
Products
and Services<http://turbotax.intuit.com/tax_products/products_and_services.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>|
Feedback<http://turbotax.intuit.com/feedback;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>|
Join
the Inner Circle<http://intuitic.informative.com/intuitCTG/portal/home?sourceID=106>|
TaxAlmanac <http://www.taxalmanac.org/> | Incorporate
Online<http://www.mycorporation.com/>|
Affiliates<http://turbotax.intuit.com/corp/affiliates.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>
Privacy Statement<http://turbotax.intuit.com/corp/privacy.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>|
Guarantees<http://turbotax.intuit.com/corp/guarantees.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>|
Intuit <http://www.intuit.com/> |
Quicken<http://turbotax.intuit.com/tax_help/turbotax_and_quicken.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>|
QuickBase <http://www.quickbase.com/> | Canadian Tax
Resources<http://quicktax.intuit.ca/tax-software/tax_resource_home.jsp?catId=4>|
QuickTaxWeb <http://quicktaxweb.intuit.ca/content/index/index.php?b=intuit>
(c)1997-2007 Intuit Inc. Trademark Notices <http://www.intuit.com/legal/>
By accessing and using this page you agree to the Terms of
Service<http://turbotax.intuit.com/corp/terms_of_service.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>
Software License
Agreements<http://turbotax.intuit.com/corp/softwarelicense.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>
Security Certification of the TurboTax Online
application has been performed by C-Level Security
[image: Security Certification of the TurboTax Online application has been
performed by C-Level Security] [image: Reviewed by TRUST-e, Site Privacy
Statement]
<http://turbotax.intuit.com/corp/privacy.jhtml;jsessionid=SH2XTKXJHGH4MCQIAULRXCQKBACQ4F4K>[image:
Authorized e-file Provider] [image: HACKER SAFE certified sites prevent over
99.9% of hacker crime.]
<https://www.scanalert.com/RatingVerify?ref=turbotax.intuit.com>
Tuesday, April 3, 2007
Download VMware Server - Registration - Sent Using Google Toolbar
Download VMware Server - Registration
9010J-Y6TFX-2AP70-435A4
Download VMware Server - Your Registration Has Been Received!
Thank you for your interest in VMware Server. Below your will find your serial number(s) for VMware Server and the download link leading to the binaries. Please print this page for a record of your serial number(s).
Sincerely,
The VMware Team
Your serial number(s):
92125-Y6TDR-2A65H-482JX9010J-Y6TFX-2AP70-435A4
Find out more about VMware Server Support and Subscription offerings.
Learn about the benefits of managing VMware Server with VMware VirtualCenter.
Thursday, March 29, 2007
Saturday, February 10, 2007
Fwd: 7 page fax message
---------- Forwarded message ----------
From: Timothy Lancaster <tlancaster@ureach.com>
Date: Sat, 10 Feb 2007 22:51:46 -0500
Subject: Fwd: 7 page fax message
To: timinsane@gmail.com
From: Timothy Lancaster <tlancaster@ureach.com>
Date: Sat, 10 Feb 2007 22:51:46 -0500
Subject: Fwd: 7 page fax message
To: timinsane@gmail.com
---- forwarded message attached ---
Tuesday, January 30, 2007
49 pictures for you
You have been sent 49 pictures.
dscf0098.jpg
dscf0102.jpg
dscf0107.jpg
dscf0111.jpg
dscf0118.jpg
dscf0120.jpg
dscf0121.jpg
dscf0122.jpg
dscf0123.jpg
dscf0124.jpg
dscf0126.jpg
dscf0128.jpg
dscf0129.jpg
dscf0131.jpg
dscf0132.jpg
dscf0133.jpg
dscf0134.jpg
dscf0138.jpg
dscf0139.jpg
dscf0140.jpg
dscf0141.jpg
dscf0143.jpg
dscf0144.jpg
dscf0145.jpg
dscf0146.jpg
dscf0147.jpg
dscf0148.jpg
dscf0149.jpg
dscf0151.jpg
dscf0153.jpg
dscf0154.jpg
dscf0159.jpg
dscf0166.jpg
dscf0167.jpg
dscf0172.jpg
dscf0173.jpg
dscf0174.jpg
dscf0175.jpg
dscf0176.jpg
dscf0177.jpg
dscf0178.jpg
dscf0179.jpg
dscf0180.jpg
dscf0181.jpg
dscf0182.jpg
dscf0184.jpg
dscf0186.jpg
dscf0187.jpg
dscf0188.jpg
These pictures were sent with Picasa, from Google.
Try it out here: http://picasa.google.com/
Subscribe to:
Posts (Atom)
