Fiscal Cliff Tax Planning?

27 Nov 2012 08:59 #1 by FredHayek
So anybody here making some changes to their portfolio because of possible higher taxes next year?
Because of lower limits on death taxes, I know of one man who is distributing more of his estate this year than he originally planned. And I know a couple others who are choosing to claim capital gains this quarter rather than pay the expected higher taxes next year.

So we might get an unintended consequences effect here. The tax receipts could be larger this quarter than next when the higher tax rates actually arrive. :wave:

Thomas Sowell: There are no solutions, just trade-offs.

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27 Nov 2012 19:14 #2 by Rick
Replied by Rick on topic Fiscal Cliff Tax Planning?
We all know we're not going over the cliff yet. The sky won't fall and the cities won't burn so we may as well just stick our fingers in our eyes and close our eyes and worry about this down the road... like Greece did. We still have lots of ink in the presses and our "rich" haven't been tapped out yet. Pour yourselves a tall one and continue living in the Matrix... ignorance is bliss.

The left is angry because they are now being judged by the content of their character and not by the color of their skin.

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27 Nov 2012 19:16 #3 by Martin Ent Inc
Stuffing the mattress, burying the coffee cans, moving the floorboards, hanging new pictures.

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27 Nov 2012 19:40 - 28 Nov 2012 21:20 #4 by otisptoadwater
Dear Santa,

I have been a very good boy this year. I paid all of my taxes, donated 15% of my income to charity, volunteered at multiple events benefiting the poor, and apologize to the Wundermutt for yelling after every Broncos game...

The only thing I want for Christmas is:

http://forum.gon.com/attachment.php?attachmentid=445538&stc=1&d=1262912565

Assuming that the end of the world doesn't happen on the 21st of December 2012, it would be awesome to find this single present under my Christmas tree!

Otis

P.S. - When you come down the chimney this year could you give a brother a little warning? Nothing elaborate, just announce yourself by name. I don't want the Wundermutt to tear you up. Besides, .45 caliber and .20 gauge holes won't look good on you.

I can explain it to you but I can't understand it for you.

"Any man who thinks he can be happy and prosperous by letting the Government take care of him; better take a closer look at the American Indian." - Henry Ford

Corruptissima re publica plurimae leges; When the Republic is at its most corrupt the laws are most numerous. - Publius Cornelius Tacitus

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27 Nov 2012 20:16 #5 by Rick
Replied by Rick on topic Fiscal Cliff Tax Planning?

otisptoadwater wrote: Dear Santa,

I have been a very good boy this year. I paid all of my taxes, donated 15% of my income to charity, volunteered at multiple events benefiting the poor, and apologize to the Wundermutt for yelling after every Broncos game...

The only thing I want for Christmas is:

http://forum.gon.com/attachment.php?attachmentid=445538&stc=1&d=1262912565

Assuming that the end of the world doesn't happen on the 21st of December 2012, it would be awesome to find this single present under my Christmas tree!

Otis

P.S. - When you come down the chimney this year could you give a brother a little warning? Nothing elaborate, just announce yourself by name. I don't want the Wundermutt to tear you up. Besides, .45 caliber and .20 gauge holes won't not look good on you.

How insensitive of you Otis, It's a HOLIDAY TREE!!

The left is angry because they are now being judged by the content of their character and not by the color of their skin.

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27 Nov 2012 20:24 #6 by otisptoadwater
MERRY CHRISTMAS!

I can explain it to you but I can't understand it for you.

"Any man who thinks he can be happy and prosperous by letting the Government take care of him; better take a closer look at the American Indian." - Henry Ford

Corruptissima re publica plurimae leges; When the Republic is at its most corrupt the laws are most numerous. - Publius Cornelius Tacitus

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28 Nov 2012 06:40 - 28 Nov 2012 08:53 #7 by LOL
Replied by LOL on topic Fiscal Cliff Tax Planning?

FredHayek wrote: So anybody here making some changes to their portfolio because of possible higher taxes next year?
Because of lower limits on death taxes, I know of one man who is distributing more of his estate this year than he originally planned. And I know a couple others who are choosing to claim capital gains this quarter rather than pay the expected higher taxes next year.

So we might get an unintended consequences effect here. The tax receipts could be larger this quarter than next when the higher tax rates actually arrive. :wave:


I got me a gold panning kit and I'm gonna retire an go pannin for gold up in them there hills! I saw an article how to do it on the Internet! :lol:

If you want to be, press one. If you want not to be, press 2

Republicans are red, democrats are blue, neither of them, gives a flip about you.

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28 Nov 2012 07:27 #8 by FredHayek
Didn't the Denver Post have an article on gold panning this weekend. Might be a good way to dodge taxes...unless the IRS makes the assayer report your finds.

Thomas Sowell: There are no solutions, just trade-offs.

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28 Nov 2012 08:35 #9 by Rick
Replied by Rick on topic Fiscal Cliff Tax Planning?

FredHayek wrote: Didn't the Denver Post have an article on gold panning this weekend. Might be a good way to dodge taxes...unless the IRS makes the assayer report your finds.

Best way is to barter... maybe WHEN the economy really does crash, Denver can be the firt "Barter Town" and we can turn the stadium into Thunderdome to settle our differences.

The left is angry because they are now being judged by the content of their character and not by the color of their skin.

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28 Nov 2012 08:42 #10 by FredHayek
Melt down your pre-1964 coins for the silver...

Thomas Sowell: There are no solutions, just trade-offs.

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