Investor Not Concerned

BY JOHN WILLIAM GALBRAITH

I found the article “A Taxing Problem” (JofA, May00, page 51) quite interesting.

I have never been too concerned about capital distributions from my mutual funds because I realize in the long run my total tax bill is based on the difference between how much I paid into the fund and the amount I receive when I finally redeem all my shares.

In the intervening time, I may have paid part of my capital gains tax on the annual distributions from the fund, but nevertheless, my total tax over the time I held that fund is based on the accumulated total I receive, less the amount of my original investment.

John Wm. Galbraith, CPA
St. Petersburg, Florida

SPONSORED REPORT

The technology assessment engagement

Are you working with the best technology? Do you know how to help your clients determine if their technology stack measures up? In this free report, J. Carlton Collins, CPA, explains how to answer those questions via a technology assessment engagement.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.