<p>Suggestion–
Maybe it would be helpful to have (e.g. start) <em>one thread</em> about investments, stock discussions, etc, as they seem to pop up in many different threads.</p>
<p>jym, probably a good idea as a) there seems to be strong interest among some; and b) it may be of less interest to others. I’m busy enough that I’ve had to entrust specific investments to others. The investments I make these days are of time are in my business, my kids, my relationships, and time/money in charitable/do-gooding activities.</p>
<p>Thanks, shawbridge. dstark started this thread <a href=“http://talk.collegeconfidential.com/parent-cafe/1323863-investment-speculation-out-right-gambling-thread.html[/url]”>http://talk.collegeconfidential.com/parent-cafe/1323863-investment-speculation-out-right-gambling-thread.html</a> for discussion of investments, stocks and such</p>
<p>Great name, dstark!!! Should pull in a few more gamers!!!</p>
<p>Well…where are you? ;)</p>
<p>A smaller number of audits means a drop in federal revenue, as more tax cheats get a free pass. A lean IRS staff translates into less help for taxpayers seeking assistance at the same time the agency is dealing with exploding identity theft and complex changes in tax law. </p>
<p>This season’s budget cuts left the IRS with 5,000 fewer workers than it had in 2011, according to a Treasury Department employees group. </p>
<p>Stressed resources are hurting taxpayers seeking advice as the Tuesday filing deadline approaches. “Taxpayers seeking help by phone are waiting on hold for as long an hour, and every day there are very long lines of people waiting at Taxpayer Assistance Centers around the country,” Colleen M. Kelley, president of the National Treasury Employees Union, which represents workers at the IRS, said in a statement last week. </p>
<p>[With</a> resources stretched, IRS may audit fewer folks | ajc.com](<a href=“http://www.ajc.com/news/with-resources-stretched-irs-1418331.html]With”>http://www.ajc.com/news/with-resources-stretched-irs-1418331.html)</p>
<p>Why does Congress keep cranking up the complexity and quantity of regulations which make filing harder and harder each year? I just learned about the new stuff related to Ebay and Paypal and 1099-K forms. I was concerned because I’m selling a bunch of old tennis racquets. Fortunately I’m way under the limit for the law but someone selling a car or boat might get one of these forms and have to deal with proving that they didn’t make a profit on it.</p>
<p>BTW, I do prefer investing, taxes, and economics all on one thread - it means that the odds of keeping it going are a lot better. I have to take a trip to the post office today and then I have two more filings to do but the deadlines aren’t this week so there isn’t a lot of pressure. I got a lot of rest over the weekend - recovery from taxes, holidays and life.</p>
<p>"Why does Congress keep cranking up the complexity and quantity of regulations which make filing harder and harder each year? "
-They want control, they do not care about economy…when they get over 50% of people not paying taxes, they are set for re-election, it is very close at 49% currently. They even refused to take back what GM owes, they want to have it Government Motors…it is all about control, power over ship like us…samo, samo as was done in different country 100 years ago, using different means - arms. No need for arms here, regulations/money, treating different groups differently by supposedly using the law will accomplish the same.</p>
<p>Then there are state and local taxes to add in. People in the lowest 20% of income earners paid about 17% of their income to federal, state and local taxes in 2011, versus about a 30% effective rate for the top earners, according to an estimate from the Institute on Taxation and Economic Policy. But the share of total taxes paid roughly matches the share of total income for each of the income groups.</p>
<p>For instance, the lowest-income group paid 2.1% of total taxes paid and earned 3.4% of total income, while the top 1% income group paid about 22% of total taxes paid, and had a 21% share of total income. Click here to see chart on income and taxes by income group (PDF).</p>
<p>“The poorest fifth only pay 2.1% of total taxes,” Wamhoff said. “Well, they only get 3.4% of total income.” The tax system is “a little big progressive, but it’s not outrageously progressive.” </p>
<p>[Taxes:</a> Are you paying your fair share? - TaxWatch - MarketWatch](<a href=“Taxes: Are you paying your fair share? - MarketWatch”>Taxes: Are you paying your fair share? - MarketWatch)</p>
<p>Ok…I got my updated 1099…</p>
<p>It is off just a little… $900,000+.</p>
<p>On the the plus side…i have isolated all the problems except for 2,000,</p>
<p>Which…I think I am just going to have to let go…</p>
<p>Like I said before…a lot of the problems are just arithmetic errors…ridiculous…</p>
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<p>And I thought that I was being generous on my return.</p>
<p>I’m going to keep my trading light this year.</p>
<p>And maybe get back into INTU. They’re the best at auto-importing financial transactions.</p>
<p>I understand that some of the newer programs run on the iPhone and iPad and you just scan the forms with your device and it sucks it all in. I think that the IRS should have a machine in their offices where you bring in all of your forms, put it in the machine and it tells you what you owe or should get back.</p>
<p>“I understand that some of the newer programs run on the iPhone and iPad and you just scan the forms with your device and it sucks it all in. I think that the IRS should have a machine in their offices where you bring in all of your forms, put it in the machine and it tells you what you owe or should get back.”</p>
<p>That would be nice.</p>
<p>I have to say…I am not that excited about trading after these tax issues.</p>
<p>2012 is wrong too…</p>
<p>I traded 40 times the other day for $1,000…hey…I am a former market maker…some of the trades have small profits…and I see that I supposedly have a 5,000 loss…</p>
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<p>It would stink to have to base your trading on tax effects. I would also think that brokerages will have to compete eventually on how tax-preparation-friendly they are. It sounds like Schwab isn’t doing so hot in this area. I have zero complaints on Fidelity this year but I didn’t have a huge number of transactions and there were no options involved. I think that I did have some shorts in there. Ameritrade was fine for me because I made zero trades there. It wasn’t fine for one of my co-workers.</p>
<p>It really does stink…</p>
<p>On the plus side…the problems should be easily correctible.</p>
<p>Except…for the wash sales…Schwab has to stop calling every other loss a wash sale.</p>
<p>Schwab is not the only firm with issues.</p>
<p>“Ameritrade was fine for me because I made zero trades there”</p>
<p>yeah…zero trades…works… No more nonsense. :)</p>
<p>Ameritrade is my LTBH account. Even when there are trades, it’s usually no more than 15/year. The Ameritrade account is more about dividends.</p>
<p>That is probably a good way to segregate trades…although…sometimes… long term trades becaome short term trades and short term trades become long term trades…at least for me. :)</p>
<p>Yup, that does happen. I’m more into long-term stuff these days with some swing-trading. Definitely more relaxing. It requires more up-front fundamental work though.</p>
<p>That sounds good.</p>
<p>gentle reminder that dstark’s wonderful investment thread is a great place to talk about trades</p>
<p>Jym626… You have to participate then…</p>
<p>3 or 4 people can’t carry that thread…</p>
<p>Everybody is affected by the economy so this thread probably has more staying power.</p>
<p>You changed your post, dstark. I can possibly participate in a thread about the economy if I have something to say, but when I open it and the discussion is about trades, I have nothing to say. There are many threads dedicated to one particular topic (eg the diet threads, the housing threads) that have a steady, even if small number of participants. You have started a wonderful thread on a specific topic, and hopefully those who want to talk about investments and trades and stocks and brokerage houses can talk about it and share insights there so all can see the discussion, rather than occasional side topics in the housing thread or here or wherever else it pops up. I think a thread dedicated to investments is a great idea, and I promise when I have to next research a stock for my womens investment group, I will ask you folks that are so good at it a question… in that thread. Threads sometimes take time to get traction. I think your thread will do well.</p>