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And if you sell your home for more than you paid for it many years ago, you'll be able to exclude the first $250,000 of your gain - $500,000 for couples - from capital gains taxes. The starting point for calculating capital gains, known in tax lingo as the basis, is how much you paid for the asset, plus commissions, and in the case of something like real estate, the cost of improvements less depreciation. After ratification of the 16th Amendment in 1913 established the federal government's authority to levy income taxes, capital gains were taxed at the same rate as ordinary tax rates. That changed after World War I, when Congress passed the Revenue Act of 1921, which for the first time put a lower tax rate on profits from investments as a way of stimulating economic growth, and differentiated between short-term and long-term assets, as this 2007 Congressional Research Service report details.|Your sense of smell can be a funny thing. To some people that fragrance is delightful, but to your sensitive nose, it could be painful and unhealthy. If you're predisposed to itchy eyes, headaches and respiratory irritation in the presence of strong fragrances, just walking downwind of someone who's wearing perfume could trigger a reaction. You may have a hypersensitivity to one or more of the chemicals in some fragrances, and your allergy might not be limited to perfume, either. Many cosmetics and even household products, like soap and furniture polish, can contain fragrance compounds that make perfume allergy sufferers sneeze, cough or worse. Dabbing on a little cologne or perfume before a big date may make you feel sexy, but if you're allergic, it could also be a risky health proposition. Perfume allergies can be particularly hard to pinpoint because it's almost impossible to discover all the ingredients in a fragrance. Unlike cosmetics, recipes for fragrances are protected from government scrutiny in the United States.




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