Capital gain
Hi, I am sitting on close to a million dollars in capital gains, mainly stock value increase. How can I preserve this. If I sell I’ll pay much higher taxes. My current rate is 32%. I’m concerned the market is about to take a correction. Is there a number I need to stay under so that my tax rate doesn’t go into a much higher category? Thank you for any advice you can offer.
Terry Says
Ha — taxes are the price you pay for success! And right now, capital gains tax rates are near the lowest in history.
There are two ways to look at it: Pay the taxes now, and keep the balance.
Or wait for a bear market to take half of your profits, and don’t complain when it happens!
