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How Long Can I Carry Forward My Capital Gain Losses?

We are almost two-thirds done with 2013 and some of you haven’t even completed your tax returns.  For those of you who filed and finished your tax returns in April, most of that paperwork is neatly tucked away in your home filing cabinet.   Since the stock market has run up over the past year most investors have made gains in their stock and stock mutual fund positions.   However, the majority of tax payers never look at their capital losses from prior years to do effective tax planning.  So just how long can you carry forward your capital gain losses? First, you should be aware that you can sponge up capital gains year to year against any capital losses or carry forward losses that you have on your tax return.   This means if you have a carry forward loss of $30,000 from a prior year and had $30,000 of long-term capital gains here in 2013, you would essentially have a wash.   ...

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VIDEO | Grocery Shopping with Peter Lynch

Published on Nov 29, 2012 For the past three years, I have been an avid personal finance blogger discussing everything from managing your wealth to mitigating your tax liability. No matter how substantive the topics I wrote about in the personal finance sector, the big question was whether someone would actually read my content. As bloggers, we often believe that our most recent post will change the lives of millions, but in reality only a handful of people may click through your e-mailed link to read your weekly blog post. The art of creating effective titles is incredibly important because if your title and opening paragraph are catchy and interesting, your readers are more inclined to check out the rest of the article. Take the title I opened up with in this article. Did it make you at least a little bit curious about what happened when Peter Lynch went grocery shopping with me at Whole Foods the other day? Or ...

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Did You Learn Anything From DotCom 1.0?

There is an old saying that history has a way of repeating itself.   For those of you who can remember the glorious run of the stock market in the late 1990’s filled with internet companies who went public faster than you can say ding ding of the opening bell on Wall Street, are we now watching the launch of DotCom 2.0 in the stock market.    With Facebook going public last week with over a 100 billion dollar valuation, have we as investors and consumers learned anything about risk and investing our money?    Here are three things to be thinking about when it comes to managing your money and trying to make sensible decisions for your overall portfolio. Understand Appropriate Risk Relative To The Time Frame You Need The Money– Even with information available to us with a click of button on the internet, I still believe investors truly don’t understand risk.    One of the simple ways I’ve described this to ...

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What will credit downgrade mean to you?

I waited a week to pass to the let the media frenzy subside around the recent credit downgrade.    All we needed was Tiger Woods to miss the cut at the PGA Championship this past week to make the credit downgrade seem like any other TMZ story of the week.    The Standard & Poor’s rating agency downgraded the United States Credit Rating from Aaa to Aa+.    While the other major rating agencies Moody’s and Fitch have left us at the very highest level, you have seen what the recent downgrade has done to the stock market making it look like a Six Flags roller coaster ride. As painful as this decision was (and it is kind of so 2011 media to begin doing an investigation into whether the math by the S & P was correct) to our country, we desperately needed a wake-up call.    I run a business and I continue to wonder how many politicians have ever even had ...

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Five Money Lessons From March Madness

With the first big day of March Madness behind us, day two is sure to give us some other memorable buzzer beaters for the years to come.  While we all get focused on the office pools, March Madness can really teach you some great money lessons to help you make more smart money moves for the rest of your life. Defense is more important than offense – People I have met over the years are often chasing the investment that they believe can give them the greatest return.  This can be a risky stock, a piece of real estate, or some private equity investment. In additional as many people approach retirement, they continue to have the lion’s share of their money in the stock market. Pulling back your risk when you get closer to your goal or when you get older in age are important defensive strategies that can help you win games versus always thinking about offense. Making a ...

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