7,302 reputation
2739
bio website
location Sydney, Australia
age
visits member for 2 years, 7 months
seen 3 hours ago

3h
reviewed Leave Closed Effect of increasing house prices on my economic situation?
3h
reviewed Close How safe are withdrawals made using checking account number and routing number? [USA]
3h
reviewed Close How to find information about ethical banking?
4h
comment What's the best time to start holiday shopping this year?
26th December 2013!
1d
asked Using Fibonacci Extensions to set profit targets?
Aug
26
comment Why isn't money spent on necessities deductible from your taxes?
@keshlam - the original tax laws are first passed, then through the years they are tinkered with by various social and other policies, including the attempt to close various loopholes. In the end it all becomes too lengthy and complicated and a total overhaul is usually required. I never said tax law is simple, but I have a good understanding of why deductions are allowed, whether appropriately or due to some social policy - and I probably know more about the US Tax system than you do (from your answer and comments) and I am not even from the USA - thank God!
Aug
26
comment Will the market price be definitely lower than 'after hours' number?
$18.76 is an indication of what it will open at the next day but that may change with pre-open trading the next day.
Aug
25
comment Why isn't money spent on necessities deductible from your taxes?
@keshlam - of course Business expenses are deductible as they should be - business expenses are used to derive income/profits. As I said, social policy can interfere with standard tax policy, promoting some investments over others and allowing tax deductions where normally they usually wouldn't be allowed.
Aug
25
comment Why isn't money spent on necessities deductible from your taxes?
@CarlosBribiescas - NO, rent will never be tax deductible in the future (unless the place you rent is the place you do your work from as explained in my answer), because there would never be a social policy promoting people to rent their place of residence rather than owning it. BTW - we don't even know which country you are from - as tax policies can be different in different countries.
Aug
25
comment Why isn't money spent on necessities deductible from your taxes?
@CarlosBribiescas - your apartment is not used to derive income unless you do your work there. Since you do not do work in your apartment but instead go somewhere else to do your work then you cannot claim your rent as a deduction. You live in your apartment but you don't work there. You work to survive and live - you don't live to work, so in general, your living expenses cannot be claimed as deductions.
Aug
24
comment Why isn't money spent on necessities deductible from your taxes?
Most Tax laws in my country make plenty of sense to me. They are quite logic, and deductions are usually available where the expense has occurred to derive income, except for when social policy allows deductions where they usually wouldn't be allowed.
Aug
24
reviewed Approve suggested edit on Long term capital gains
Aug
23
comment Why isn't money spent on necessities deductible from your taxes?
@JohnFx - that is why I mentioned that sometimes social policy gets in the way to allow for deductions where they usually wouldn't be allowed.
Aug
23
answered Why isn't money spent on necessities deductible from your taxes?
Aug
23
answered What's the difference between Buy and Sell price on the stock exchange
Aug
22
comment Investing in low cost index fund — does the timing matter?
@KalebBrasee - I didn't have data going back to 1980 but compared between 1988 to 2000 - the results were more comparable with DCA returning 140% and Timing the Markets 172%. However, the real power of timing the markets really comes in by avoiding and being out of the market during steep downtrends similar to those that commenced in mid-2000 and late-2007. And if you really want to boost your profits during these big bear markets instead of just cashing out you can also go short or buy into a bear ETF.
Aug
21
answered What are some ways to mitigate the risks of covered calls?
Aug
21
comment Investing in low cost index fund — does the timing matter?
@Heisenberg - In the Market Timing eg. above there are 7 transactions (4 Buys & 3 sells) over 7.5 years compared to 16 buy transactions with the DCA eg. So with the market timing strategy there is an average of one transaction per year - that is not frequent in my books. Also there is only one occurrence of short-term CGT and the tax paid is only $504.80. If you don't want to pay short-term CGT then don't make a profit - keep your money invested in a falling market and watch your profits quickly dry up. Paying tax is actually a good thing - it means you actually made money and not lost it.
Aug
21
comment Investing in low cost index fund — does the timing matter?
@Heisenberg - what are you on about? The whole point is to buy when the market is about to take off and sell and take profits when the market has become overheated and starts to fall. If you don't sell you will not make any profits. Simple, if you don't want to pay any tax don't make any profits !
Aug
21
comment Investing in low cost index fund — does the timing matter?
@BrenBarn - From a psychological perspective I would say that having thousands of dollars invested in a falling market would be more nerve racking than investing a large amount when you see your funds growing in a bull market and then taking your capital and profits out to cash when you see the market falling sharply in a bear market. No one ever has gone broke in taking a profit.