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Well the only good thing about a stock market decline is that we owe LESS taxes on the earnings...ahem, I mean on the lack-of-earnings. In fact, it gets better. We can (and should) take up to $3,000 of losses over and above those which offset our capital gains, as a tax loss.
Warren Buffet was quoted over the weekend saying the economy is in shambles and that it will last for the rest of this year. Not sure that’s news, yet it’s surely captured headlines. In fact, Buffett may have needed (he surely wanted) to refocus some of the VERY negative spot light on him, given that his investments, including Berkshire Hathaway suffered the worst year in it’s history, by a VERY large margin. Don’t get me wrong, I like Warren Buffet, yet I’m NOT sure this is a time for him to be spouting off; perhaps he should stick to his knitting.
Yes, you read right. I partnered with my Internet marketing guru, Michael Tasner, at a business development conference in San Francisco. We stood 6 feet apart, rested each end of a 6 foot long Rebar Iron bar in the soft spot located in the front of our throats, just under our adam's apple. We looked into each other's eyes, and concentrated on both our current power, as well as having drawn up former powerful images of ourselves by the instructor.
I also read yesterday that one in five Americans aged 18-34 is obese! Yes, I have noticed the spread widening on Americans as we sidle up to yet our next buffet or super-sized fast food meal.
Alex Rodriguez’s admission to steroid use from 2001-2003 yesterday was the latest example of tarnish and cheating and lying. Young? Not too young to cash the big checks! Stupid, yes, I’ll readily agree. Greedy? Check. Selfish? Surely. A hero? Not.
If Barack Obama can defy the terrific odds of being raised by his grandmother instead of a nuclear family, graduate Harvard magna cum laude, become a community organizer in Chicago in 1985, serve Illinois as their Jr. Senator from 1996-2004, win their US Senate seat from 2005-2008, and later outsmart, outrun, and outfundraise Hillary Clinton to become the Democratic nominee, and ultimately win the prize of the United States of America's first black President, then we women can surely push past our resistance to learning about our money. By comparison...well there really IS no comparison, period.
Bloomberg's morning's news reported that of 1,300 Wall Street executives canvassed about their 2008 bonuses, or lack thereof, 36% said they were disappointed in the amounts--expected more. Stop already!
Hey all you smart mutual fund investors, listen up! Check your accounts on line now, or call your broker or investment company,to see if your fund issued any capital gains this month. That's right, even though your fund's value probably took a nose dive, there very well may have been trading in that fund throughout the year that could have resulted in a capital gain. Mutual funds distribute the bulk of such gains during December to their shareholders, so you COULD owe income tax on capital gains even though your fund is sporting a big fat loss, or even a mild-paunchy loss...
Don't miss out on the salve for our investment wounds! Uncle Sam shares in our investment pain, by allowing us to tax-deduct our investment losses, but you must act in the next two days, you heard it, by 4pm EST on Wed., December 31st.
I, for one, have NO interest in zero percent return on my money. Yet this weeks' traunch of 4-week US Treasury bills paying ZERO percent sold out! Yes, you read correctly; people stormed the Treasury to have the US Government hold their money, period, paying out zero (or less, read on) interest.