My accountant informed me yesterday, that I'm going to owe quite abit of taxes this year from capital gains....RBY and SLW have done too well for me this year!...Now, I have to "pay the Piper", so I've started to skim some of the profits again...to build up the Coffers for the next credit card payoff and the TAX MAN!
I had a sell order in yesterday for RBY @ $4.60....it got filled this morning before I had logged on...I wish I had waited, now that I hear that 11 holes drill results are to be released next week!....But you never know what can happen, so I'll be happy that I made a good profit on my investment, and will be able to payoff some of my Debts!
I only sold 300 shares of RBY ...and 500 of SLW @ 15.75....the rest of the shares will have to wait for another DAY! When new drill results come out I'll take more off the table for Ol' Uncle Sam!
Best Regards All, Long for Cash...and I got some today!
Sorry to hear about you miss timing. A couple of thoughts: Tax time isn't until April 15th. And, assuming your are on a standard margin account, and you aren't full in on margin, you could just use a cash withdrawal that would go against your margin limit without selling any stock. But, of course, you need to do what is most comfortable for you. Rgds, Lew
Rusty, I never use a margin account loan! (well, once to be able to have cash necessary for the auction on the court house steps to buy the new house in Oregon)...I payoff my credit card balances every month, so that I don't incur any interest fees!
That's what the money from this sale of stock will cover (I'm buying many things for the new house)...the next sale will have to go towards Uncle Sam! That one will draw down my shares...more than I would like, but this is my only source of income for me now until Social Security "kicks in" starting in June...
Best Regards, Long for Cash....you gotta take some out at some point!