Running Bear's July 2023 Coffee Shop

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I ended up selling half the stock we own a few days ago. 42 different stocks. In 1998 we sold about 10 stocks and that generated a 73 page tax return with all the what we bought the stock for and what we sold them for, capital gain taxes. I hoping I can just download all the sales this time. I'm not sure how it all works these days. I may have to pay a tax accountant this year.
Swal
 


Good morning gang!

68° and overcast, clearing and 87° later with 100% humidity. Big thunderstorm around 2:30 this morning. Dog jumped into the bed and shook like a leaf. Otherwise I would have slept through it, cept for a 50 lb dog standing on my bladder!

FLo, can I get a large coffee to start,, make it a double!
 
Good Morning All. Mostly clear and 78°, headed back to 103° later today. Mid to upper 90's for the weekend and a return to triple digits Monday. Heat advisory's until September. Maybe I can get a little work done outside since I have no morning appointments until Wednesday.

Between the cataract surgery and follow-ups plus testing and follow-ups with my primary care doc, a previously scheduled visit to the cardiologist and one with the pulmonologist, I have 12 medical appointments in the next 40 days. Ugggh!
Another unusual thing, at least to me, happened Wednesday during my lengthy visit to my primary care doctor. He called my cardiologist from his cell phone and got a personal callback within 5 minutes! Those guys must have a secret "hotline" that they use!

The grocery trek yesterday went OK. At least most prices have stabilized. But other than fuel, inflation never goes backwards in my observation. Stopped at the pharmacy to pick up 7 prescriptions, yes 7! And that doesn't count the many that we get from the mail-order place. The lady behind the counter actually knows who I am when I walk in!:( I guess that the unique beard helps her remember.

Trying to get back into things in the train shed. I did plant about a dozen trees around the place. I hate making them, but I got a boxful from Chet that I am now using to fill in a few places. I have also finally built up a stock of smaller ones to fill in. None of that activity warranted pictures, yet
However during the process, I knocked a Longhorn off the layout and I cannot find the leg that broke off, or the tip to one of his horns.
IMG_0030.JPG

For the leg, I am going to fashion something out of a leg that I cut off a figure to make him into a vehicle driver.
IMG_0031.JPG


Terry - Looks like someone should have dumped a load of sand or topsoil in your lot before the caravan was put in.

Today is National Junk Food Day. I guess that as junky as I actually get is Fritos; thankfully. We just didn't have it at home growing up, I couldn't afford it in college, so I never developed the habit.
Everybody have a great day and enjoy those Cheetos.
 
Good morning from a crispy cool So. Central WIsconsin. The weather apps and TV guys were wrong again. There was no rain overnight, the skies are clear and the smoke haze is missing with the Air Quality number at 30. They did get the wake time temperature right, the low was 55 at 6AM it’s now 57 heading to 82f degrees.

The string trimmer and I have a date to finish what we started yesterday. Mainly the footpaths and around the garden containers where no mower can go. Maybe another 30-45 minutes worth of work. The local ordinance says I can make noise at 7 but I will hold off till 8. Then a drive over to the pool to do my laps. Terry is out with her rather big pets and her Friday riding group from the area stables.

Terry was yammering something yesterday about our investments since NYC _George mentioned stocks. What I remembered was her saying my 401k came alive again. From December to yesterday it’s regained all its losses from 2023 plus 13%. It’s really the only investment we have remaining that we cannot make our own choices. He have to pick from a list of funds and stocks and it now costs me to make more then. 2 changes a year. The investment company also let us know earlier this year that any withdrawals beyond 1 yearly will now have an administration fee of $90. There goes my monthly withdrawal plan when I hit the mandatory age for a must start. She has looked into withdrawing everything from the plan and parking it elsewhere but the taxes last year with the 401k losses just weren’t worth it. I will have to ask if maybe now is the time to get out.

I see the huckster on TV, Jim Cramer says the old Chrysler stocks now called Stellantis ( or something like that) is undervalued and a good buy! Heck, I thought they were on their last legs. They did give notice the big Belliverdere, Il. assembly plant outside of Rockford is scheduled to be permanently closed next year. The Illinois governor is looking to provide a “package” to keep the plant open. I had the cave’s TV on last night because Terry said it was having issues. She was watching some cooking shows while she was walking on the machine that goes nowhere. The TV was freezing but the audio would keep going. I had the TV on to try to duplicate that so that’s why Jim Cramer was on. After 30 minutes or so, it finally happened, audio but the screen was frozen. Checked all the inputs, texted the son who offered this advice
IMG_0638.png


Where is the old time adventure of fixing things. But, it is at least 14 years old and in TV years that ancient. Today, a Best Buy trip will occur

enjoy the day
 
TLOC said:
He have to pick from a list of funds and stocks and it now costs me to make more then. 2 changes a year. The investment company also let us know earlier this year that any withdrawals beyond 1 yearly will now have an administration fee of $90. There goes my monthly withdrawal plan when I hit the mandatory age for a must start. She has looked into withdrawing everything from the plan and parking it elsewhere but the taxes last year with the 401k losses just weren’t worth it. I will have to ask if maybe now is the time to get out.
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I think if you sell stock the same year you bought it there's a 40% tax on the sale. I've never done that. I did sell my Conrail stock when I left the railroad. It was so long ago I can't remember anything about the sale except at the time it was doing well.
Swal
 


santafewillie said:
I know that that's warm for New Jersey, but I have had 5 days this week above 102°. But that's actually not unusual here. #6 tomorrow, then 2 days below and at least 6 more afterwards. Still a long way off from 2011 or 1980.
Click to expand...
Willie: Wife had NY local news on TV yesterday, for the regional weather, and all they talked about was the "DANGEROUS HEAT WAVE". Since you Texans haven't co-operated by breaking records, they had video of the effect of the heat in neighborhoods in Italy. No mention that temperatures in the Metropolitan Area topped out at 88°, (Central Park). The implication was that it was much warmer. So I went looking for the last 30 days here, and what I found, I shared. Last year we had more consecutive 90°+ days, but it's been a few years since we had consecutive 100°+ days. But that doesn't make for good headlines.
TLOC said:
see the huckster on TV, Jim Cramer says the old Chrysler stocks now called Stellantis ( or something like that) is undervalued and a good buy! Heck, I thought they were on their last legs.
Click to expand...
Tom: The Markets have improved of late...and Jim Cramer is still a huckster. Stellantis is a conglomeration of the remnants of Chrysler, and Fiat. Still won't buy their cars, still won't buy their stock. This appears to be a stealth rally, with a lot of good earnings, yet others are still publicly talking recession and hard times. Roll the dice, or spin the wheel. ;)
Good luck with the new TV selection process.
NYC_George said:
I think if you sell stock the same year you bought it the same year you bought it there's a 40% tax on the sale.
Click to expand...
George: My accounting knowledge is not current, but the last I remember, stocks sold within 12 consecutive months of purchase are considered "Short Term Capital Gains", and are taxed as ordinary income. Which means at the same rate you pay for the rest of your current income. Securities held longer than 12 consecutive months of purchase are considered "Long Term Capital Gains", and are taxed at "favorable" tax rates. The 1099 you receive from your brokerage, has to separately list the Short Term Stocks and Long Term stocks. Stocks sold at a loss, regardless of time held, count as a Capital Loss, and any loss should be used to offset taxable gains on Federal Tax returns. For what it's worth, I would definitly hire a CPA to assist you this year, perhaps one who works with your attorney, so that everyone is on the same page.
 
Bruette said:
www.mlb.com

MLB Gameday: Orioles 4, Rays 3 Final Score (07/20/2023)

Follow MLB results with FREE box scores, pitch-by-pitch strikezone info, and Statcast data for Orioles vs. Rays at Tropicana Field
www.mlb.com www.mlb.com


He must be ecstatic! The Orioles have one of the finest minor league systems in all of baseball.
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The way my spouse described it ti me is that his father was a catcher with the Atlanta Braves ---
I do not know the years. If I had been here when they were "chatting", I would have tried to learn more!
 
NYC_George said:
I think if you sell stock the same year you bought it there's a 40% tax on the sale. I've never done that. I did sell my Conrail stock when I left the railroad. It was so long ago I can't remember anything about the sale except at the time it was doing well.
Swal
Click to expand...
No. "short term" sale which I think is within a year makes it regular income, and so the tax you pay on the capital gains is the same as you pay on salary or any other regular income. If you keep it long enough (I think one year), the capital gain is taxed at the "capital gains rates" which are usually lower than your normal tax rate.

I am not a tax pro or accountant but do have some experience filing with these.
 
Well howdy there internet peeps and those glad they're not the lorry driver in the UK having to haul away that whale carcass that washed up...

It's Troy again.

One grocery run for the morning done. And a target run scheduled for tomorrow.

For you Brits in the audience, I just mentally pronounced "scheduled" the British way, not the American way. That's what happens when I write too many books with either British or Canadian spellings. I can never spell Aluminium the American way after hearing the British pronunciation.

I gave Whistle Pig Rye a taste last evening. At over $60/bottle - and that's a Costco price! - it'll stay top shelf and get pulled out to impress guests. It's good, but not $60/bottle good.

OK, back to writing.
 
Boris said:
Willie: Wife had NY local news on TV yesterday, for the regional weather, and all they talked about was the "DANGEROUS HEAT WAVE". Since you Texans haven't co-operated by breaking records, they had video of the effect of the heat in neighborhoods in Italy. No mention that temperatures in the Metropolitan Area topped out at 88°, (Central Park). The implication was that it was much warmer. So I went looking for the last 30 days here, and what I found, I shared. Last year we had more consecutive 90°+ days, but it's been a few years since we had consecutive 100°+ days. But that doesn't make for good headlines.

Tom: The Markets have improved of late...and Jim Cramer is still a huckster. Stellantis is a conglomeration of the remnants of Chrysler, and Fiat. Still won't buy their cars, still won't buy their stock. This appears to be a stealth rally, with a lot of good earnings, yet others are still publicly talking recession and hard times. Roll the dice, or spin the wheel. ;)
Good luck with the new TV selection process.

George: My accounting knowledge is not current, but the last I remember, stocks sold within 12 consecutive months of purchase are considered "Short Term Capital Gains", and are taxed as ordinary income. Which means at the same rate you pay for the rest of your current income. Securities held longer than 12 consecutive months of purchase are considered "Long Term Capital Gains", and are taxed at "favorable" tax rates. The 1099 you receive from your brokerage, has to separately list the Short Term Stocks and Long Term stocks. Stocks sold at a loss, regardless of time held, count as a Capital Loss, and any loss should be used to offset taxable gains on Federal Tax returns. For what it's worth, I would definitly hire a CPA to assist you this year, perhaps one who works with your attorney, so that everyone is on the same page.
Click to expand...
Boris for the last 25 years I've done my own taxes but 26 years ago I needed some help when we sold about 10 stocks and had to p[ay capital gains on the sale. They already took out the taxes on last week's sale. To be safe I think I'm going to hire a CPA this year. I was going to sell all the stock but when they told me what the taxes would be I decided to sell only half. If my wife has to be admitted to a nursing home and they take the remaining stock so be it. There's a lot to think about if she has to be admitted.
Swal
 


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