Posted by Geo-TH,In on January 04, 2016 at 06:00:09 from (172.78.83.122):
In Reply to: Re: Stocks posted by Old bob. on January 03, 2016 at 19:11:10:
My broker recommended energy stocks. Down 10% for the year. He too said it has to come back up in time. Good thing I only put a little money there. However when it comes to a loss can be turned into a profit.
In 2008 one of my investments was down 50%. I sold it, took $45k loss. Invested remaining money back in the market, different stock. It's back to where it was pre 2008. Each year my CPA can write off $3k loss on my taxes. For me that transulates into about $1000 a year I'm not paying in income taxes. So a loss can have some advantages, just can't put your money back in the same stock you sold for 90 days.
Talk to your CPA, a capital loss can be taken off your taxes at $3k a year. So if you are not happy with your stock, sell it for a loss and re-invest in something different.
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Today's Featured Article - A Brief History of Tractors in Australia - by Bob Kavanagh. After Captain Cook's exploration of the east coast in 1770 the British Government decided to establish a penal colony in Australia. The first fleet arrived in 1788 and consisted mainly of convicts who were poorly equipped and new little of farming techniques. The colony remained far from self-supporting and it was not until the early 1800's that things started to improve. Free settlers started to arrive, they followed the explorers across the mountains and where land was suitable set up farms. T
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