posted
Assume that I have $400,000 worth of investments, and am looking to cash all of it in at once. What would the initial tax fee be, and what would the end of year tax rate be?
Posts: 1480 | Registered: Dec 2004
| IP: Logged |
posted
Seeing as how you have no insight into my situation, I'd have to say that your opinion is fairly irrelevant.
Posts: 1480 | Registered: Dec 2004
| IP: Logged |
posted
It totally depends on what the investments are, how long you've owned them, and how you acquired them. Your question is, unfortunately, unanswerable as posed.
Posts: 26071 | Registered: Oct 2003
| IP: Logged |
posted
Diversify. Bury half in mayonnaise jars in your backyard, and take the other half down to the dog track and bet on the one that does his business on the way to the gate.
Posts: 5462 | Registered: Apr 2005
| IP: Logged |
posted
ElJay, don't worry about PC. Some people just aren't worth the expended effort it would take to change them.
Posts: 1480 | Registered: Dec 2004
| IP: Logged |
posted
If you have that much money to be cashed out, the only sensible approach is to seek the advice of an accountant.
Posts: 15770 | Registered: Dec 2001
| IP: Logged |
posted
fugu's entirely right. If things are dire enough that you need to cash in a nest egg that large, you want to talk to a professional ASAP.
Posts: 37449 | Registered: May 1999
| IP: Logged |
posted
Fugu's right, cashing out that much in investments requires professional advice to minimize taxes. And Dag's right more info is required to answer the question. But I wouldn't provide more info than you already have on a public forum. Boon might (I don't want to speak for her) provide you with some tax advice. But get it via email! It's not jatraqueros you should worry about (we're all as honest as the day is long ) but the rest of the internet getting into your business.
quote:Originally posted by TheHumanTarget: ElJay, don't worry about PC. Some people just aren't worth the expended effort it would take to change them.
posted
You would be better off to leave that much money in whatever investment it represents and borrow what you might need against it, if they are the result of Capital Gains you are going to get clobbered twice.
quote:Originally posted by Bean Counter: You would be better off to leave that much money in whatever investment it represents and borrow what you might need against it, if they are the result of Capital Gains you are going to get clobbered twice.
BC
Why do you feel qualified to speak about this at all? What degrees do you have in this field? What type of experience?
It is bad enough when you post about things teat don't matter and are ignorant about them. This is something that matters, and you may very well be the last person on Earth who they should listen to.
Last I checked grunts weren't tax officers, at least not most of them. Stick to polishing boots.
Posts: 15082 | Registered: Jul 2001
| IP: Logged |
posted
Hey, you ask for investment advice on a free forum, you deserve what you get. But quite apart from that, BC's advice seems to be at least an option to be looked at. It could be impossible for some reason, or it might turn out to be more expensive than cashing it out, but I don't see where it should be dismissed out of hand.
Posts: 10645 | Registered: Jul 2004
| IP: Logged |
posted
Teh Intarweb Forums are not the place to get this sort of information. Get yourself a financial consultant.
Posts: 15421 | Registered: Aug 2005
| IP: Logged |
posted
I have an accountant and am waiting for information from him. It was more the nature of my impatience that led me to ask the question here. Thanks for the good (and the bad) advice.
Posts: 1480 | Registered: Dec 2004
| IP: Logged |
quote: Only when you haven't considered enough options.
While I'm sure most of you have the best intentions, I'd appreciate it if you'd leave my decision-making skills out of your comments. I had a specific (although admittedly not specific enough) question, and didn't solicit anyone’s input on why I'm choosing to do this.
quote:Assume that I have $400,000 worth of investments, and am looking to cash all of it in at once. What would the initial tax fee be, and what would the end of year tax rate be?
posted
Okay, I'll be less caustic in this response.
Even without the why of the situation, it's impossible to give you an answer as the term "investment" is far too broad to determine any tax liability.
Examples of investments:
Stocks
Bonds
Real Estate (or REITs)
Stock Options
Tax-Deferred Retirement plans (401k, IRA, etc.)
Roth Retirement Plans
Pension Plans
Classic Cars
Memorabilia
Collectables
Precious Metals
Gems
Etc. Etc. ad nauseum.
All of these investments are taxed differently. So, you see, even without the why, an answer cannot be given without more information.
Professional advice is definitely worth it. With their help, you'll save significantly more money than their advice will cost you.
Posts: 4753 | Registered: May 2002
| IP: Logged |
Printer-friendly view of this topic
![[Wink]](wink.gif)
![[Smile]](smile.gif)
![[Roll Eyes]](rolleyes.gif)
) but the rest of the internet getting into your business. 
