Quote:
Originally posted by Sonic dB
Good question and topic.... any other tax tips for 2005? Im going to pay about $60K in taxes this year, even after my deductions. It sucks totally.
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Do you have any losses in an investment portfolio you can realize? Sell now, buy the underlying index fund, wait 31 days.
Buy it back afterwards. .... Call whomever is managing your portfolio....NOW!
Do you work for someone?... yourself?
Start a nonqualified deferred comp plan.... great tax channel.
Self employed- UNIK-401k plan... single owner 401k plan.
Many options.... late on time though.
Ken.