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Posts Tagged ‘intention’

Any Canadian mutual fund portfolio trackers that allow re-occurring transactions and actually work?

July 29th, 2010

I am looking for a free canadian mutual fund portolio tracker that allows re-occurring transactions. I am currently using fundlibrary.com but their re-occurring transaction ability has not been working for the past 3 years and they have no intention of fixing it. The other option is globeinvestor.com but i would rather not have to pay 159$ a year for something that should be a free service.

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Tags: 3 years, canadian mutual fund, intention |

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Can I transfer appreciated stock to a minor child with no income, sell it, then pay taxes at their rate?

July 28th, 2010

I have appreciated company stock that I have held over one year. I purchased it with the intention of using it for my childrens (age15 and 16) college education. I would like to gift it to them, then they could sell it. Since capital gains tax goes to 0% in 2008 for low income people, and at best they will have part time jobs, I could save the capital gains tax on the gain, allowing them more for college. This will lower their chance of grant money, but I think we make too much anyway (combined 0,000).

Could I do this to avoid paying capital gains? The stock is in my name, can my wife and I each gift ,500 per year (or do I need to transfer some to her first)? Would she have to wait to gift it? Do the kids need to hold it an additional year to get long term capital gains?

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Technorati Tags: capital gains tax, college education, company stock, intention, long term capital, long term capital gains, money, part time jobs