Still think TITNC3: Return of the Iceberg was peak

Wait.

MA and NC charge OVER the federal cap gains tax rate? Did I read this correctly?

 

Speaking of which, I just finished my taxes and filed today. Yes, I always wait until the last day.

I got bent over on capital gains. Some of it was my fault making money, some of it was restructuring the boomer account

 

Not sure how MA works but in NC cap gains are taxed as income at the flat 5.25% rate.

And yes, this is on top of whatever your Federal responsibilities are.

 

boo, hiss. That sounds awful.

 

And I got dinged on cap gains this year as well. Did a major sector rotation on the boomerfolio last year and it's mostly taxable brokerage account. Had to realize some gains on things I wanted to exit. No choice.

 

I'm here until my parents pass, then its almost certain the wife and I will be heading back out west, likely back to AZ.

NC was nice but it's getting too purple and the tax regime reflects that.

 

And on top of all of that, apparently you have to live in NC. Some people just can't catch a break.

 

Arizona is death boiled over and an affront to mankind's arrogance to the natural order. Unless you go to Flagstaff. Flag's nice.

 

*Choose to

It's a lovely state but I'm increasingly incompatible with the politics so the clock is ticking.

 

Flag's too fucking cold in the winter. Prescott/Verde Valley area.

 

Anything regularly above 70 degrees in the summer is not fit for humans to domicile.

If you need me, I'll be eating reindeer steaks somewhere in the Artic.

 

Mass is ON TOP OF...
You have your regular income, say you earn 100K and make 100K
income is 22% fed and the LTCG is stacked for the same 22% or 24%...
In ma the income is taxed at 5%
Capital Gains 12%
so thats 5,000+12,000 and depending on your with holdings the 5000 SHOULD be already taken out of your earnings so you would only owe $12,000 on top...PLUS penalties...
So from your $200K

$48,000 federal
$5000 wages+12000 cap gains state
75K in taxes

125,000 left...

 

why the fuck would you live there?

 

And you know what I did???
Sat and waited for it to break $12 and THEN bought some calls for 6 months out...$40...Nothing extra leapy...Nope...No need to make $$$$$$$...
SOOO Much left on the table but I wasn't an autist...
Could have had 2,000 shares for $8K and it would have ALL been long term dumping at $450 to reload...THe crazy thing is it really didn't matter what strike you bought, it was just an initial investment. The spike was so crazy that % wise nearly every call was the same profit vs strike, but initial costs were wildly varied. That's why DFV killed it on his 1 year $12/$14 "Leaps" They were pennies 1 year out when it was $4/share and they were glad to sell them...
That's why $12 was my "trigger" OH his $12 are in the money now so...

God to go back and smack myself and get all in

 

The thing about once in a lifetime plays, is thankfully on very rare occasions, they come about twice.

If it had been one year prior, I'd have been on the road instead of sitting at home being bored watching stocks and missed all of it

 

Oh yea...Dumb 100% luck...
I even misplayed $AMC after that...Had 2000 shares paid for via calls for a straight up in the money group of $5 calls when it hit $10+...If I held those 2000 shares till $50+...100K....
NOPE...took my $13K profit and ran...
I Know...whoa is me...
Buhhhh...stilllzz

 

And the $GME shares I have now are a write off...
They will Moon or die...No screwing around...

 

I bet years of retirement on it. If it doesn't happen, I'm hoping for nuclear war or giant meteor

 

wow...going back to read that investment thread from mid 2020 what a trip...It's strange to have a sort of fiscal diary floating around where you can go back and be like "Oh yea, I did have a bunch of $ABT at $100....what's that done? Oh it's been flat since then...Not a bad sell...and even $DIS is back down to earth...

 

The things a man can do when the market is closed