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Gold/Mining/Energy : Big Dog's Boom Boom Room
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From: Paul Senior2/27/2006 5:16:28 PM
  Read Replies (3) of 206316
 
Net capital losses in '05? I find it an odd discussion. Apparently on the thread there are people who have losses past or present who:

1. Couldn't get net gains in trading this year or in past years to offset earlier year losses, and so, who are still, even in this bull market, writing off losses at $3000 per year. Maybe some of these people ought to change their trading methods and start making money. -gg-
(If you make enough money - and imo '05 was the year to do it for oil stocks - those gains ought to - or might have -wiped out carryover capital losses, and without carryover losses, there would be no $3000 write-off to discuss.)

2. Want the top savings rates for maybe big cash accounts but also people (maybe the same people?) who will not spend a few hundred dollars for a tax accountant to calculate their taxes and to consult, advise, and help them understand tax consequences regarding their financial activities and goals. A BIG mistake to go cheap and dyi with TuboTax-like stuff and with only seeking & following opinions of "experts" in taxes who are other traders in a chat room. Amazing what an independent third-eye who knows the law and accounting and who does taxes for all kinds of people can tell you from your tax forms about your trading and investing style and results, and your other financial activities. Not necessarily what you might want to hear, but can be very helpful and profitable.
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