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<blockquote data-quote="1982vett" data-source="post: 1377857" data-attributes="member: 7795"><p>I realize you are asking our crystal balls what the market is going to do.... so let me remind you of a tax management tool that doesn't involve spending. It is getting close to the end of the year. Which would do you more good? Income this year to pay bills or deferring said income into next year possibly reducing taxable income for this year.....managing self employment taxes is worth at least 15.3% of your profit. </p><p></p><p>Risks of deferring are the market continues down on top of added carring expenses, labor and the ever present risk of illness and death. Upside tax management is possibly a lower tax bracket for 2016 and if you are already profitable this year, a lower tax bill for self employment this year. Upside of holding over might be the market strengthens and you get paid for your extra efforts and risk you took on and have 12 months to manage your tax bill.</p></blockquote><p></p>
[QUOTE="1982vett, post: 1377857, member: 7795"] I realize you are asking our crystal balls what the market is going to do.... so let me remind you of a tax management tool that doesn't involve spending. It is getting close to the end of the year. Which would do you more good? Income this year to pay bills or deferring said income into next year possibly reducing taxable income for this year.....managing self employment taxes is worth at least 15.3% of your profit. Risks of deferring are the market continues down on top of added carring expenses, labor and the ever present risk of illness and death. Upside tax management is possibly a lower tax bracket for 2016 and if you are already profitable this year, a lower tax bill for self employment this year. Upside of holding over might be the market strengthens and you get paid for your extra efforts and risk you took on and have 12 months to manage your tax bill. [/QUOTE]
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