Replies to post #20594 on MATRIX Penny Stocks

[1eagle1]

Hi dashrip417...I am responding only in idea of suggestion and thought process...there will be plenty of good advice from omni and other experienced investors here who know the law(current and past) regarding active investments I am sure.

Just a note...profits can be moved to benefit YOU...taxes come with the territory...but don't "worry" about them...we should NOT be afraid to make money...look at Yourself as a business entity...a professional who knows this arena will help...I suggest a tax consultant that is specialized in investments and self-employed businesses...make a profit and take a profit without hesitation!
Happy Holidays!

[purlieu]

dashrip - taxes

It sounds like all your gains are short-term capital gains (i.e. stocks held for less than a year). If that is the case, I believe your gains will be taxed at the same rate as ordinary income, which varies depending on how much money you make overall in a year. Your short term capital gains add to your income, and could possibly push you up a bracket. The following link is to a tax table for 2002. By the way, all this information was valid for 2002. I don't know how much it has changed for 2003.

http://taxes.yahoo.com/rates.html

Congratulations on your 11-bagger!!

[Omnitrader]

dash: first and for most, congrates on having 2 pay taxes on your gains.LOL


talk to your tax man he will explain it 2 you
you talk about having losses carried over from prior years.

if you have 20k in losses and you made 20k this year you owe uncle sam zero. hope that is the case.

great to hear you made some nice bank this year. we are so very spoiled and always forget how much banks are paying these days.

I had 1,200 sitting in my IRA back in jan 00 by the end of that year it was 40k. anything is possible.