Impacts of recent Capital Gains law proposal

[TobaccoKing4]

Who cares Chris? The tweets have been really nice and not offensive at all and everyone knows that's what really matters when it comes to being a great President. No one has anything to worry about

[Tao_Moko]

Nothing new. Collectibles have been considered an asset eligible for short or long term gains for some time. You can get real answers by searching google for the same question posed here. Just make sure it directs you to irs.gov.

[Vintageismygame]

Originally Posted by TobaccoKing4

Who cares Chris? The tweets have been really nice and not offensive at all and everyone knows that's what really matters when it comes to being a great President. No one has anything to worry about

Do you have a newsletter? If you do I would like to subscribe to it!! LOL

[Kutcher55]

Stock markets have been tanking?

[egri]

If this tax increase does come to pass, I think we'll see a lot of money moved into municipal bonds. The extent that impacts collectibles, stocks, and everything else that has been overheated this past year is anyone's guess.

[honus94566]

Originally Posted by TobaccoKing4

Who cares Chris? The tweets have been really nice and not offensive at all and everyone knows that's what really matters when it comes to being a great President. No one has anything to worry about

I totally agree! It's nice to have someone that knows how to be a decent human and doesn't make our country the laughingstock of the world. As an added bonus, he also knows how to spell words.

[chriskim]

I guess most people here are long term investors. I am more of a short term investor who is heavily invest in tech stocks, with that said, I guess I could be the only one seeing my portfolio turned from green to red and staying red recently. My bad for calling the stock market is tanking. sorry...

[Exhibitman]

The OP question is based on two false premises. (1) gains on cards have always been taxable, and (2) cards are not subject to the same preferential 15%-20% capital gains rate as stocks. Collectibles are taxed at up to a 28% rate:

https://www.irs.gov/taxtopics/tc409

In some cases it may be more efficient to form a business and pay marginal income taxes on net profits than to take a capital gains approach to card sales. It all depends on each person's specific financial profile. One thing I am pretty certain of is that no one is moving money from tax-efficient investment like stocks held for more than a year to a less efficient one like cards if they are making decisions based on capital gains taxes. Money is going into hard assets like cards because of two factors: (1) a belief in short-term potential for flipping in and out at a profit that cannot be garnered in other investments, and (2) as a small piece of a portfolio to hedge against inflation, similar to how metals and other tangible assets have been treated in the past. As to the latter, with the high expenses to enter and exit the market, I think it is not a good investment relative to others. But they are fun to own; you can't beat looking the Bambino in the eyes.

[Yoda]

I believe the proposed new tax law aims to restore tax equity by making some hedge funds' income, now treated as capital gains as taxable income. I imagine the present treatment has cost the Treasury billions.

Should be some fireworks in Congress on this one.

[rjackson44]

Could care less

[pwang100]

Originally Posted by rjackson44

Could care less

I never understood the saying " Could care less".. shouldn't it be " COULDN'T care less"?

Sent from my SM-G950U using Tapatalk

[TobaccoKing4]

Originally Posted by chriskim

I guess most people here are long term investors. I am more of a short term investor who is heavily invest in tech stocks, with that said, I guess I could be the only one seeing my portfolio turned from green to red and staying red recently. My bad for calling the stock market is tanking. sorry...

You aren't the only one. Growth tech will be back once the inflation data settles down.

[Republicaninmass]

Originally Posted by TobaccoKing4

You aren't the only one. Growth tech will be back once the inflation data settles down.

Curious how this one ages.

I'm my OWN contrarian indicator

[TobaccoKing4]

Originally Posted by Republicaninmass

Curious how this one ages.

I'm my OWN contrarian indicator

Uh oh I've been quoted! Lol take it with a grain of salt, I'm not a financial advisor but from my understanding that's the way it will work. Fortunately Im young enough to get bailed out by my time horizon if I'm wrong

[butchie_t]

If my financial advisor EVER told me to sell my portfolio and reinvest in sports cards/memorabilia, I will immediately be looking for someone much more saner and stable.

[TobaccoKing4]

Originally Posted by honus94566

I totally agree! It's nice to have someone that knows how to be a decent human and doesn't make our country the laughingstock of the world. As an added bonus, he also knows how to spell words.

100% man! Paying more for gas and some rando in Paris not being upset improves my life tenfold. Really looking forward to being able to leverage the joy and emotional comfort of the European populous into buying a house and supporting my family!

[egri]

Every thread needs a card.

[chriskim]

Originally Posted by egri

Every thread needs a card.

fixed

[Eric72]

Originally Posted by egri

Every thread needs a card.

Adam already posted a Ruth; however, I'll add this one.

Mugsy couldn't care less.

[Huysmans]

Originally Posted by TobaccoKing4

100% man! Paying more for gas and some rando in Paris not being upset improves my life tenfold. Really looking forward to being able to leverage the joy and emotional comfort of the European populous into buying a house and supporting my family!

Thanks for making my afternoon... this comment was spot on.