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re: Taxes. How do I minimize the pain?
Posted on 11/22/20 at 9:15 am to 1234567k
Posted on 11/22/20 at 9:15 am to 1234567k
here is the simplest and really only way to minimize capital gains taxes on successful stock purchases...
1) don’t sell them prior to the 12 month anniversary of your purchase
2) don’t sell them after that either
let your winners run (and keep feeding them) and kill your losers quickly. You should not be investing in equities money that you will need to extract in the short or near term. That’s the point of investing
if you are trading and not investing then short term capital gains taxes are the cost of doing business, and should be included in your trading strategy
1) don’t sell them prior to the 12 month anniversary of your purchase
2) don’t sell them after that either
let your winners run (and keep feeding them) and kill your losers quickly. You should not be investing in equities money that you will need to extract in the short or near term. That’s the point of investing
if you are trading and not investing then short term capital gains taxes are the cost of doing business, and should be included in your trading strategy
2
Posted on 11/22/20 at 3:26 pm to cgrand
quote:
here is the simplest and really only way to minimize capital gains taxes on successful stock purchases...
quote:
if you are trading and not investing then short term capital gains taxes are the cost of doing business, and should be included in your trading strategy
I am trading.
Not investing.
Now that I have something to protect, I will move toward investing and learning about all the tax laws and jargon.
I did know about the 401k route and did increase contributions to the max.
I did not know about the 12 month anniversary, long term vs short term gains.
Thanks for the education.
Posted on 12/7/20 at 9:25 pm to cgrand
quote:
ere is the simplest and really only way to minimize capital gains taxes on successful stock purchases...
1) don’t sell them prior to the 12 month anniversary of your purchase
2) don’t sell them after that either
let your winners run (and keep feeding them) and kill your losers quickly. You should not be investing in equities money that you will need to extract in the short or near term. That’s the point of investing
if you are trading and not investing then short term capital gains taxes are the cost of doing business, and should be included in your trading strategy
This x 1000. Very seldom will I sell before the 12 months. I typically on buy stocks I plan on holding long term. Too many people fail to factor in taxes when calculating their "gains".
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