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el jefe

06/10/11 11:32 AM

#655 RE: Flexologist #654

ha! this is a good one. my suggestion for people who are concerned with the tax ramification of short term capital gains vs long term capital gains...put your money in mutual funds ;)

But to answer the question, my personal situation is a little different than most guys. I own several businesses, in addition to my stock portfolio being under a corporation as well. This allows me to write off just about everything, in addition to the normal losses and fees that everyone else writes off.

25% or your effective tax rate is your short term capital gains. you will write down your losses, just as you do your gains. hopefully they don't offset ;) My TD Ameritrade platform syncs with turbo tax and makes it pretty simple.

If you want day to day tracking, just make an excel spreadsheet as a P&L.

I've yet to look for software.