Taxes are what they are, and will be what they wil
Post# of 87098
(Total Views: 436)
Posted On: 03/15/2021 3:26:20 PM
Taxes are what they are, and will be what they will be (based on who's in office and politics). No one here has control over tax laws. So IMO there is no point in complaining about them.
Here's what you can control:
1) When and at what price you sell your UNVC shares.
2) Whether you take short-term (< 1 year) or long-term (> 1 year) profits.
3) How you respond to potential tax hikes:
You can stay under the new higher tax limits (for profits) each year and let your money continue to grow for posterity and future generations
Or you can take huge profits (e.g. at the end of 2021) before any potential tax hikes take effect (e.g. in 2022).
There is also:
1) Charitable giving to offset your taxes.
2) Giving away $15k/year to any friends or family members (tax free)
3) Establishing trusts and giving away large sums of money to family members while you are still alive and before any changes take place in estate taxes.
4) Moving to a different state or country to avoid high taxes where you are living.
5) Your vote.
Here's what you can control:
1) When and at what price you sell your UNVC shares.
2) Whether you take short-term (< 1 year) or long-term (> 1 year) profits.
3) How you respond to potential tax hikes:
You can stay under the new higher tax limits (for profits) each year and let your money continue to grow for posterity and future generations
Or you can take huge profits (e.g. at the end of 2021) before any potential tax hikes take effect (e.g. in 2022).
There is also:
1) Charitable giving to offset your taxes.
2) Giving away $15k/year to any friends or family members (tax free)
3) Establishing trusts and giving away large sums of money to family members while you are still alive and before any changes take place in estate taxes.
4) Moving to a different state or country to avoid high taxes where you are living.
5) Your vote.
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