Finance - HL 327 (2)

Helpful miscellaneous articles regarding our retirement plan and planning.  Like you, I review my retirement nestegg and plan from time to time.  Recently, I went though some continued education for some credentials I maintain and it occurred to me that we all could use a review about these issues.  So with your help, we will share and post articles and info that may be helpful and of interest to many of you in this section.

 

Reminder: Federal IRS has moved this year’s 2020 tax filing deadline to May 17^th.

Most states have moved theirs inline.

 

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Fears of Biden’s capital gains tax proposal are discounting stocks, Jim Cramer says

PUBLISHED THU, APR 22 20216:56 PM EDT

Tyler Clifford@_TYLERTHETYLER_

KEY POINTS

·         CNBC’s Jim Cramer said investors are unnecessarily selling stocks on reports that President Joe Biden could raise capital gains taxes.

·         “The idea that Biden has 50 senators who’ll vote for this is just fanciful, frankly,” the “Mad Money” host said.

·         “Be ready to buy stocks that are getting crushed by tax fears that have nothing to do with the fundamentals,” he said.

In this article

·         FB+0.68 (+0.23%)

WATCH NOW

VIDEO02:25

Jim Cramer reacts to reports of Biden’s capital gains tax proposal

Investors selling stocks in reaction to the Biden administration’s rumored plan to hike taxes on investments are making a mistake, CNBC’s Jim Cramer said Thursday.

“Please, do not fear the taxman. Don’t fixate on where a stock came from, only think about where it might be going,” the “Mad Money” host said, shrugging off the odds that the proposal would get through Congress as is.

Stocks fell after a Bloomberg News report said that President Joe Biden could propose raising capital gains taxes on millionaires.

Convinced that the situation is creating discounts in the market, Cramer is taking the other side of the trade.

“Be ready to buy stocks that are getting crushed by tax fears that have nothing to do with the fundamentals and watch for stocks with good yields if you’re desperate for tax-efficient income,” he said.

Cramer advised investors to not sell the news, given the hurdles Democrats have to push the policy through a Senate with a slim majority.

“I can live with taxing capital gains as ordinary income – we don’t want higher taxes, but I can live with it – but the idea that Biden has 50 senators who’ll vote for this is just fanciful, frankly,” Cramer said.

As reported, the plan would increase the capital gains tax to 39.6%, up from 20%, for wealthy Americans.

 

 

 (As with any of these informative articles, anyone who needs someone to talk to about

this very subject contact me and I can direct you to a knowledgeable advisor).

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