Read on Twitter
What's going on?
President Joe Biden wants to hike Capital Gains to to 42%, this is a 100% hike on incomes above $1m.
Capital Gains (CG) is a tax paid when investors sell an asset for profit
e.g. buy BTC for $100, sell for $200 in 12 years, you pay 42% on gain of $100
President Joe Biden wants to hike Capital Gains to to 42%, this is a 100% hike on incomes above $1m.
Capital Gains (CG) is a tax paid when investors sell an asset for profit
e.g. buy BTC for $100, sell for $200 in 12 years, you pay 42% on gain of $100
In effect, Capital Gains is a tax on good investors.
The reaction of the "rich" has been to flee the market thus shares fell.
However, if you don't sell, you don't pay the CG
Warren Buffet portfolio secret is not selling. He HODLs and pays no taxes thus compounding
The reaction of the "rich" has been to flee the market thus shares fell.
However, if you don't sell, you don't pay the CG
Warren Buffet portfolio secret is not selling. He HODLs and pays no taxes thus compounding
Thus if you are a long term investor, why worry about CG?
You won't sell...so even at 100% you avoid it.
Another loophole? You can trade via your US Retirement Acc and pay no taxes as well (ROTH IRA)
So choose your plan, stay your course
You won't sell...so even at 100% you avoid it.
Another loophole? You can trade via your US Retirement Acc and pay no taxes as well (ROTH IRA)
So choose your plan, stay your course
