Topics created by PrincipalMember

@almighty1 said in Should you accelerate income/stock gains to 2017 due to tax changes?:

In my case, hard to say since I have QLD, DDM and AAPL. The first two has 600% gains and the second one has 11,000% gains so if I sell, basically 100% of the amount is gained so is there a strategy to sell and still use it again to make money while having cash from the sale?

It is simple - you need to know your state tax bracket and you need to decide whether you want to take profits in the near futureand diversify or stay in the same positions.

IRS says many who prepaid property taxes may still face cap on deductions

Not surprised - those were kind of the rules before and IRS and is just clarifying the rules. Even before this hysteria started, you were always allowed to fudge on the payment for a bill received - e.g. pay billed 2018 property tax in 2017, pay spring semester tuition in Dec, early payment of Jan mortgage. All this existed before and was all kosher.

It is amazing to see how many people (including people with 500K income) have absolutely no clue about the tax system and they are leaping to do stupid things/following their neighbors and friends like lemmings and then asking questions. I had one person asking me if he should be prepaying the property taxes when he is squarely in the AMT region and he had already paid it. And then there are people who want to pay mortgage for the next 3 years.

I only have 1 amex card at the moment thinking about a couple more, will use this in my decisions.