{ "media_type": "text", "post_content": "Hey all, what do people here do to help reduce the short term capital gains from sale of stocks? Last year I ended up paying about a few thousand in taxes for stocks. Holding long term is not an option.", "post_id": "6106445a63a1d600202b3318", "reply_count": 28, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Hey all, what do people here do to help reduce the short term capital gains from sale of stocks? Last year I ended up paying about a few thousand in taxes for stocks. Holding long term is not an option.

like
Posting as :
works at
You are currently posting as works at

Hold them longer

like

Thanks Docusign1, I did see you mention about tax harvesting earlier and it’s a nice suggestion

uplifting

Offset them with losses. Look up "tax loss harvesting". It's what Financial Advisors do, except they have taking platforms that so all the math for them.

like

*Trading. Not taking. *do Autocowrecked

If paying taxes on your income is such an issue, you could always instead donate those gains to charity - problem solved.

like

You have to pay taxes on your income. This isn't really avoidable. You can borrow against your shares in lieu of selling if you really need the money. If you have enough $ in a company, you can borrow against it at like 1% interest.

like

This is what Mark Zuckerberg does so he doesn't have to pay taxes. 1% interest is less than inflation and Facebook goes up by more than that every year.

You could also consider just paying your taxes

like

SC1, I feel bad for Slalom Clients. We are supposed to help them, not disappoint.

like

Yeah, tax loss harvesting. Sell a product that shows a loss, and then buy something similar (but not the same). If you repurchase the same security it’s a wash sale… Needs to be substantially different. There’s not a firm rule, as I understand it. I wouldn’t sell VOO and buy SPY, but selling VOO and buying VTI might be defensible.

like

Offset capital gains with losses.

like

Tax loss harvesting is about the only option

like

Maybe trade under a holding company?

Additional Posts

What happened to good old-fashioned holiday bonuses? I'd rather a check than a $20k practice holiday party (and I help plan, so yes, it's at least that much).

like

Anyone have experience working with Umbrex? Found a UI/UX contract opportunity but wanting to know more about the firm as a whole (culture, typical client culture, etc.).

like

How does helping win pitches factor into how you negotiate for a raise? For example, do you put a number on it? If so, how do you calculate that?

like

Decided that I’m leaving audit today. Trying to understand the full range of opportunities in forensics. Will have my CPA and CFE. So far, I understand that there are client-serving firms like FTI and then the B4 will have forensics arms as well. What are some other forensic accounting roles? Pros and cons? Better than audit? Honestly just looking to learn anything.

like

Best bang for my buck SPG/Hyatt in Amsterdam and Paris please 🙏🏼

like

Boutique firm or Big 4?

like

What’s the latest I can check in my bag for a 11:30 flight? Running late, please help!

like

3 single consultants at DFW. Who's here?

like

Do you give yourself a lunch break when you WFH?

likefunny

For Kellogg why are some people interviewing with adcoms and others are interviewing with students/alumni?

like

In case H1B gets denied (I hope that doesn’t happen), what countries have you considered moving to besides Canada. Indian national and pending transfer to MBB if that helps.

like

Have an in-person interview with Slalom next week for a consultant position, I’ll be interviewed by 2 different consultants for 45 minutes each. Any tips from Slalom folks? Are these behavioral?

like

Planning to buy a new car, Can any supply chain experts provide some insights on when we can start seeing new car inventory go back to pre-Covid level. Like to get a good deal, inventory shortage is not helping

like

Day 1 on the bench and I’m already going crazy!

like

How accurate is an automatic watch suppose to be? I just got my first automatic watch recently and it seems to gain +6-8sec per day. Is this normal? Seems like quite a delta. I have a tissot lady le locle btw

like

FP&A or Corp Dev as exit opp?

like

Thinking about going to see a mental health and wellness coach or medical professional. COVID is getting to me, is this a bad thing? I feel weak asking for help, but think I may need it.

like

I have attended TCS interview on 19th till now I have not received any email or feedback about my interview. How many days will they take to provide the feedback??

like

Any insight on getting MBA from mendoza as far as prospects for transitioning into a post-mba strategy consulting role? It’s ranked outside the top 15 but from research seems like it still sends plenty of grads to top consulting firms (not MBB)

likefunny

Does Google wait to reject all candidates at once, regardless of how far they progressed in the interview process? Or do they tell candidates after each round before starting the next round of interviews?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal