BoatBanter.com - View Single Post - For those who care about "the markets..."

H the K[_2_]

On 10/15/09 4:47 PM, wrote:
On Thu, 15 Oct 2009 13:30:58 -0400, John H.
wrote:

BTW another reason to get your sell orders in is to lock in your
profits under the Bush capital gains rates. As soon as they get this
health care deal settled, the next step is paying for it and capital
gains will be one place they "stick it to the rich". Right now you
only pay taxes on gains at a max of 15% and it is really even lower
than that for most people. Plan on that creeping up to your ordinary
income rate.

Some of us have a very minor capital loss to apply to the gains. Maybe
there's not such a reason to rush the sale yet.

If you have enough losses to wash your gains, holding and hoping might
be a better strategy but if you can only wash a small percentage a big
bump in the cap gains tax will hurt you. Better to get out while you
can do it cheaply.

Whew! My half-interest in our strip shopping mall/center partnership in
Connecticut is still doing well. We've lost only one tenant these past
two years for inability to pay, and that tenant was replaced this summer.

We were going to sell the mall and therefore have "proceeds" to
invest...I'm glad every day we did not. It throws off a nice income to
me and to my family lawyer partner up in Connecticut, *and* it provides
a small but steady fee for our accountant, who collects the rents and
pays the bills and supervise maintenance. All three of us have been
close friends since our summer boyhood beach days in Milford. Fifty year
friendships are priceless.

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