10-13-2020, 11:02 PM
(This post was last modified: 10-13-2020, 11:07 PM by WRXtranceformed.)
Yes that is correct Chris, there are only a few states that have no state income tax and SC ain't one of them.
The short term vs long term gains is a good point, although one thing to remember is that when you retire your income is most likely going to be lower than when you were working and you will probably be in a lower tax bracket. I would personally rather save most of the big sell offs / investment shifts for then so I'm not getting wrecked at the height of my career earnings. Although none of us know what tax laws are going to look like at that point (probably higher for most of us). That's why I've been stacking as much as I can in tax shelters. The IRS loves me right now but they won't when I retire
The short term vs long term gains is a good point, although one thing to remember is that when you retire your income is most likely going to be lower than when you were working and you will probably be in a lower tax bracket. I would personally rather save most of the big sell offs / investment shifts for then so I'm not getting wrecked at the height of my career earnings. Although none of us know what tax laws are going to look like at that point (probably higher for most of us). That's why I've been stacking as much as I can in tax shelters. The IRS loves me right now but they won't when I retire
Posting in the banalist of threads since 2004
2017 Mazda CX-5 GT AWD Premium
Past: 2016 GMC Canyon All Terrain Crew Cab / 2010 Jaguar XFR / 2012 Acura RDX AWD Tech / 2008 Cadillac CTS / 2007 Acura TL-S / 1966 5.0 HO Mustang Coupe
2001 Lexus IS300 / 2004 2.8L big turbo WRX STI / 2004 Subaru WRX / A couple of old trucks
2017 Mazda CX-5 GT AWD Premium
Past: 2016 GMC Canyon All Terrain Crew Cab / 2010 Jaguar XFR / 2012 Acura RDX AWD Tech / 2008 Cadillac CTS / 2007 Acura TL-S / 1966 5.0 HO Mustang Coupe
2001 Lexus IS300 / 2004 2.8L big turbo WRX STI / 2004 Subaru WRX / A couple of old trucks