My wife lost her job in the middle of 2013 and has been unemployed since then. I have about $7000 of company stock. I am planning to pay my car off using that money but I am not sure if this is the right situation to sell.
I am thinking that if I sell the stock before December 2013, I may pay less tax as my wife's income from past 6 months is zero and I can save some money in the tax.
I am not sure if the tax on the profit made by the stock sale is going to be a flat 35%, or will it be considered as my income and tax will be calculated based on which tax bracket I fall in?
Any help will be highly appreciated.