Silver getting crushed today

So if Bond Market goes bad, PM's will go up?

 

Log in or Sign up to hide this ad.

Whether the bond market "goes bad" as you put it depends upon whether one buys bonds for interest rates or price. The last PMs rush came during historically low rates.

 

Guys I could use your help? I will NEVER come back and say you should not have said this then I PROMISE!!
Me and the wife have run into a few life altering situations Lately and she needs to dip into her invesco account for the second time this year. Her and her boss contribute to a investment account. Where the company buys her Stock with the money I guess. But we have no clue what this will do to her taxes come January, When she calls the company they say no problem we will send you the X amount you want, And sell stocks to cover it. Her Boss is telling her to take it all Nows the time? But we are talking about all together maybe 5 grande withdrawal this year.
She is afraid it will put her into a larger tax bracket and she will have to pay into the IRS in Feb 2018 instead of the normal about 4 to 7 hundred she gets back. If it matter to the tax man it will be used mostly for medical reasons. Does anyone have a clue what we will run into for having to do this?
This is the Invesco energy fund she invests in. Not IRA, not 401 K
With Silver tanking I really do not want to have to sell my Little nest egg at these prices to cover all this crap !!
THANK YOU JON

 

Jon, frankly you need a tax accountant to determine this. I've never dealt with Invesco so my personal experience may have nothing to do with what you ought to do.

 

If she hasn't sold any during the year, she wouldn't be a taxable situation with a stock fund. If she has, but there was no gain of value in the stock shares she sold, she wouldn't have any gain, so no taxable sum. If she sold but for a lesser value than purchase, she might get some increase in refund. Medical expense can be deducted in some situations past a certain % of earnings. I always ( since 1982) buy the turbotax program and use it as it will walk anyone through an unfamiliar situation and has great online and phone support. I hope that your wife has asked someone with knowledge on investing about only investing in a single area fund. IMO. Jim

 

How do you do your taxes? I have used TurboTax for many years. In a situation like this I usually use the previous year's version to create a hypothetical scenario and it is fairly reliable. Tax laws do change from year to year but it is rarely drastic.

 

Since I am a working-while-retired person, my income/expenses vary little outside of changes in income over the year or major expenses ( both deductible or not), and that lets me know what to expect. usually, I wait until April 1 to file as a little joke, but I usually am sure of being in a range. I do keep the old return on a secured file to extract and estimate like you if we buy or sell a property for instance. Jim

 

Her boss set this up, He asked her how much money she wanted to put in weekly and he tripled it. All we know is she gets earnings reports every now and then saying you are worth this much up from X amount. And you have this much money in Invesco account. She never see's what they do with her money. Only at end of year a statement maybe showing some broad energy stocks ups or downs. Her Boss is telling her to cash out .He thinks the market is gonna crash.
And yes I have used Turbo tax online for a very long time. We never have enough to make medical deduction but may have after this year.

 

Thanks for the tip I did not know you could go in a change that after you filed. Heck after april 15th or what ever I thought you were kinda locked until Jan again, LOL Maybe if things slow down here a tad I will sign in and see what I can figure out. JON

 

You don't change anything. You just create a new return with a different name. It is all hypothetical so you can enter anything you wish and see how various changes affect your bottom line.

 

..
.. and for the year so far

 

Stay away from political discussion or posts leading towards political discussion or world events except in the very general sense. Thanks

 

Only the portion of the income that is in the higher tax bracket gets taxed at the higher rate, not all of the income. Since you are only talking about 5K it's probably not a huge amount.

Full disclosure: I'm not a certified tax planner and I don't play one on TV.

 

Silver rocketing up a quarter ...

 

and slowly crashing back down today.
I nearly bought 20 ASEs yesterday before it jumped. Might buy some today or wait for further reduction.

 

(Reuters) - A bounce in tech stocks, led by Apple and Nvidia, lifted the three major indexes on Tuesday.
And that is maybe the reason for the decline?

 

It always goes down after it goes up. Always.

 

well now they are supposedly in a quandary .

 

It is now down -0.36 from the start.

 

Start of what? The thread? The year? Anything other than that seems like too short a time and would be panic mode.