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Non-Tech : The Critical Investing Workshop

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To: Voltaire who wrote (5092)	2/25/2000 7:34:00 PM
From: mtnlady	Read Replies (2) of 35685

Thought I would bring up a little .. ahh... difficult subject.. No not THAT subject! Lol! Taxes... I give lots of $$ to charities ...(over 20%) But I am still faced with tons and tons of gains .. i.e. taxes... I can't hang onto my 'stuff' forever.. after all stock certificates can't be used as wallpaper so when the market goes through the roof I sell some and then buy back again when the market drops.. Nothing fancy. But I've got well into the 7 figures of gains already this year! Don't get me wrong I am MOST GRATEFUL to God for His blessings... But Lord have mercy. My tax accountant is going to fall off her chair when she sees this.. I haven't worked out the 'perfect' solution yet but searching for ideas. I need to generate a 'goodly' income for me and mine (I still don't have a clue about selling puts/calls etc...) but I seem to be working for Uncle Sam at this rate. Like I said .. hanging on to the 'stuff' forever doesn't seem like an option either (i.e. LT gains). You want to take advantage of the dips and peaks in the market AND what good is 20-30m in LT gains 10 years from now? I would rather have some gains now! Thinking hard about 'playing the game' for a bit longer and then spinning off a huge chunk (75%?) straight into the charity and then let the non profit charity deal with the stock/gains after that (I set-up & run the charity so I would still handle the stock transactions). But man (!) there has got to be a better way of managing these taxes/gains! What does everyone else do??? Just give Uncle Sam his 1/2 and be done with it? Hang on until everything is a LT capital gain no matter what? V what the heck do you do? Focus on the market and let the taxes take care of themselves?

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