he didn't say there was tax ramifications if you sell, he said consider the tax ramications.
and he is specifically talking about these tax ramications when you sell:
Depends how long you have been holding and what your GAI is. 2020 less than $70k GAI married filed jointly long term capital gains is 0%. Next year it goes to $80k.
If caught with short term then it’s based on your tax rate.
So it does make a difference if you are not a active trader.
Well...I HOPE you are wrong but man, I really do not know. I mean if everything gets resolved, and I believe it will, I think the market will keep on keeping on.
It might be a cause for the dip today.. I am waiting for the next pop to cash out.. Still a lot of time before the 6th im hoping we get some recovery and I can cash out soon. We might miss the boat but it's better to listen to gut feeling and just buy back in later even if more expensive. It's been a nice run. I want to take the week/month off trading since December was amazing enough gains, might be able to buy back in cheaper
Good move, I did the same actually. The market is at an all time high even though most businesses are having rough years... meaning the market is hyper inflated.. I see the coming weeks there to be some massive market corrections.
If Biden becomes Pres, it’ll be a hard crash. If Trump goes in, there will be a massive dip that will slowly recover over the course of this year.
Move it into something safer for the time being otherwise you'll get raped in taxes. I went to my local credit union and they helped me out when I did the same thing a few weeks ago
Financial Advisor here. At the end of the day, you have to do what helps you sleep at night. We had only two clients lose their nerve in March. Neither have bought back into the market. Those two guys, and their families, sold out during a crisis and entirely missed the wave back up. They sold low and now must buy high. Remember, there's no honor in panic selling; any idiot can do it. The real magic is knowing when to buy back in, and the average investor has no clue where the bottom is. If your investments are in an IRA, and if you're young, you might want to consider a longer term philosophy. All of that said, there are long term factors at play that concern me, the national debt and a possible push for a digital dollar being two of them.
Totally unrelated: I've recently decided to diversify my skill set and have picked electrical work back up as a hobby.
The stock market may be the only place that is in a no lose situation. Trump stays in office the economy comes roaring back, if Biden gets away with the steal, companies move all their jobs back to China and the market still wins.
My take, the financial markets are still very strong. I believe they wouldn't be strong if they thought Biden was going to be pres. However the spooky flu was the every 10 collapse that the NWO and Central Banker put on us just to keep us in check. Look back at history, it's roughly every 10 years.
Your money isn't any more safe with the banks.
Should never sell in a panic, hopefully they were not in a cash account.
Always consider the tax ramifications when selling any stocks.
JMO. I am not a registered advisor.
he didn't say there was tax ramifications if you sell, he said consider the tax ramications. and he is specifically talking about these tax ramications when you sell:
Tax rate
Taxable income bracket
Tax owed
10%
$0 to $9,875
10% of taxable income
12%
$9,876 to $40,125
$987.50 plus 12% of the amount over $9,875
22%
$40,126 to $85,525
$4,617.50 plus 22% of the amount over $40,125
24%
$85,526 to $163,300
$14,605.50 plus 24% of the amount over $85,525
32%
$163,301 to $207,350
$33,271.50 plus 32% of the amount over $163,300
35%
$207,351 to $518,400
$47,367.50 plus 35% of the amount over $207,350
37%
$518,401 or more
$156,235 plus 37% of the amount over $518,400
Depends how long you have been holding and what your GAI is. 2020 less than $70k GAI married filed jointly long term capital gains is 0%. Next year it goes to $80k.
If caught with short term then it’s based on your tax rate.
So it does make a difference if you are not a active trader.
I'm long on canned goods and ammunition.
buying short term put options on QQQ and SPY
SPY 420 12/01 confirmed.
Paul Krugman, is that you?
Just do the opposite of what he says
Well...I HOPE you are wrong but man, I really do not know. I mean if everything gets resolved, and I believe it will, I think the market will keep on keeping on.
It might be a cause for the dip today.. I am waiting for the next pop to cash out.. Still a lot of time before the 6th im hoping we get some recovery and I can cash out soon. We might miss the boat but it's better to listen to gut feeling and just buy back in later even if more expensive. It's been a nice run. I want to take the week/month off trading since December was amazing enough gains, might be able to buy back in cheaper
With you brother!!
Good move, I did the same actually. The market is at an all time high even though most businesses are having rough years... meaning the market is hyper inflated.. I see the coming weeks there to be some massive market corrections.
If Biden becomes Pres, it’ll be a hard crash. If Trump goes in, there will be a massive dip that will slowly recover over the course of this year.
That’s my thoughts.
I think we are 5-8% from a top.
I had been heavy in oil and metals (see post history)
Last Tuesday I unloaded many positions except for the metals for 2020 tax rates Incase somehow Biden gets in.
I see gold futures headed to 2250 area as long as $1925 area using front month contracts
JMO
Move it into something safer for the time being otherwise you'll get raped in taxes. I went to my local credit union and they helped me out when I did the same thing a few weeks ago
Every crisis is also an opportunity (for honest investment). Keep that in mind. You can’t avoid rush, just work it in your favor.
So I guess we’ll see you in DC then right
Financial Advisor here. At the end of the day, you have to do what helps you sleep at night. We had only two clients lose their nerve in March. Neither have bought back into the market. Those two guys, and their families, sold out during a crisis and entirely missed the wave back up. They sold low and now must buy high. Remember, there's no honor in panic selling; any idiot can do it. The real magic is knowing when to buy back in, and the average investor has no clue where the bottom is. If your investments are in an IRA, and if you're young, you might want to consider a longer term philosophy. All of that said, there are long term factors at play that concern me, the national debt and a possible push for a digital dollar being two of them.
Totally unrelated: I've recently decided to diversify my skill set and have picked electrical work back up as a hobby.
Perhaps wise. You must have had some nice gains.
Shifted mine ... all of it ... to precious metals for the time being.
The stock market always goes up and always will unless civilization collapses. Look up the prices as far back as possible and compare it to today.
The stock market may be the only place that is in a no lose situation. Trump stays in office the economy comes roaring back, if Biden gets away with the steal, companies move all their jobs back to China and the market still wins.
Time will tell, but you can always reinvest.
I set limits for the 6th, we'll see what happens. But.. if the stock market crashes due to some event on the 6th cash wont have value for long after.
My take, the financial markets are still very strong. I believe they wouldn't be strong if they thought Biden was going to be pres. However the spooky flu was the every 10 collapse that the NWO and Central Banker put on us just to keep us in check. Look back at history, it's roughly every 10 years.
LOL. Did you consult your accountant about the tax impacts before you did this?
I think so too. But I'm really retarded about our arcane tax laws so I always just ask the accountant ;)
That is a very good point. I just got burned on capital gains many years ago and have been super gun shy about figuring out our tax code ever since.