How To Beat The IRS (Tax Loss Harvesting)
As some people are aware, tax season is coming up and 2022 is almost over. Some of us have made immense gains, some have made smaller gains, but if it is a gain, the IRS wants their cut.
I am not a financial advisor nor am I claiming to be.
Since you pay taxes on those gains by a certain percentage depending on the total, its time to lower their paycheck to keep money in our pockets for the next year.
Please look up tax loss harvesting on your own time but as a reminder: To do this it has to be a stock you have either 1) never bought before. 2) havent bought previously in 30 days. 3) wont buy 30 days after first sale. There is more to it but thats all which is important now. please speak to a financial advisor for more information or do your own research. I am not a financial advisor. If you mess it up — it is on you. Remember, tax loss harvesting doesnt get RID of taxes, it lessens them.
Again please do your own research but here’s the plan. Why do I bother mentioning it? Cuz its fun to help others and express my ideas to me :)
1) Penny stocks are shit. Penny stocks are penny stocks because their company is doing either horrible, has no direction, doesnt outpreform, or has weak investors. The company is overall a penny stock because quite literally its all nickles and dimes with it. What better time to pay less on your capital gains than to lose money fast on heavily manipulated stock on really horrible companies!
2) Reverse ❤️ Stock ❤️ Split ❤️. I find that around 70-80 of reverse stock splits actually end up losing money after the split, 60% lose money before the split, and they almost always never see a huge run like COSM after the split. So what better way to tax loss harvest than find a company you havent bought before (or in the correct period of time), play their shitty RS that everyone buys into and sells immediatly after because they dont understand their 1000 shares of a company trading at cents is worth almost the same as having 2 shares at a dollar price, and take the loss and write it off on taxes
3) Better yet, watch people say “Its going up”, buy the very top 10 minutes after it already shot up and reached its knife spike (which 95% of the time crashes soon after) and ride the wave down.
I personally have been doing this for not just penny stock, I love seeing stock like $Tesla(TSLA.US$ lose me money (I’m never saying that again) for the sale of tax loss harvesting.
Not financial advice, but 2022 is almost over. If you have made a considerable ammount of money, and plan to in 2023 and youre confident in your investments, it might be time to try and see some capital losses. That way when the IRS wants their cut, its less of what you owe and can make back in 2023 (after 30 days).
Alkaline :)
I gotta say this again because this plan is deep:
Disclaimer: NOT A FINANCIAL ADVISOR. Do your own research or reach out to your advisor for more information. I am not liable in any way for bad or good results.
$Cosmos Health(COSM.US$ $Camber Energy(CEI.US$ $Bed Bath & Beyond Inc(BBBY.US$ $Alpha Pro Tech(APT.US$ $Sintx Technologies(SINT.US$ $Clovis Oncology(CLVS.US$ $Viking Therapeutics(VKTX.US$ $MicroAlgo(MLGO.US$ $NeuroBo Pharmaceuticals(NRBO.US$ $BlackBerry(BB.US$ $Marin Software(MRIN.US$ $COMSovereign(COMS.US$ $Meta Materials(MMAT.US$ $Rubius Therapeutics(RUBY.US$ $SAI TECH Global(SAI.US$
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Alkaline Analyst
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AkLiOP : Sort of like, how to lose money now so you dont lose more money at one time later lmfao
102415025 : Don't buy now will plunge fiercely
102415025 : May announce placement
AkLiOP 102415025: The whole point is to buy and lose money lmfao. To lower taxes