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

A new line of business to consider

Technology assessments may open the door to new engagement opportunities for your firm. What is a technology assessment? How do you perform one? JofA Tech Q&A author J. Carlton Collins shows you in a detailed explanation.

FEATURE

Maximizing the higher education tax credits

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