Thursday, December 26, 2019

Save 20% in Taxes.

How do you save 20% in taxes?    

How to Get Long Term Capital Gains Owning Less than 1 year

The law is clear.  When you own an asset for less than a year, you're subject to short term rates.  (15% vs.  35% or whatever your tax bracket states).   However, there is a workaround. sometimes refered to as a loophole.  It's a legal strategy to couple your short term asset with a long term asset.  I like to get an option for $1 on a long term asset, then sell this along with the short term asset.  You can use a timeshare as well. 

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