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.