OT - Tax Return Question

[BobC]

Originally Posted by Michael B

Yes, I fully understand that they hire very qualified professionals. I respect that approach. I saw his question, and the ones that many on this site ask, and felt that he needed to sit in front of a qualified accountant/CPA who would answer his questions and walk him through the scenarios. Just went over the taxes with my accountant last night - ouch!!

Fun stuff, isn't it? LOL

And it is just going to keep getting worse over the next several years. Ugh!

[Michael B]

Originally Posted by BobC

Fun stuff, isn't it? LOL

And it is just going to keep getting worse over the next several years. Ugh!

My wife does not work. Her capital gains were 50% more than my salary last year and my salary, with incentives and bonuses, was 85% higher than my base salary. Fortunately, she is paying the tax bill.

[BobC]

Originally Posted by Michael B

My wife does not work. Her capital gains were 50% more than my salary last year and my salary, with incentives and bonuses, was 85% higher than my base salary. Fortunately, she is paying the tax bill.

Here's hoping those gains don't turn into big losses in 2022. LOL

[Hordfest]

This thread is making me dread selling...I was so excited to sell my old collection but now I'm quite nervous about all of this.

[BobC]

Originally Posted by Hordfest

This thread is making me dread selling...I was so excited to sell my old collection but now I'm quite nervous about all of this.

Do yourself a big favor, if possible. Don't just sell everything one year, and then wait till tax prep time the following year to finally bring it up to some qualified tax professional you are then looking to for tax prep assistance. The more valuable the collection, the better off you are to discuss it with someone as early as possible, maybe even before putting anything up for sale. Good luck.