Need advice: take profits?

[Tkydon]

Well, gosh darn it... I will look into creating accounts at Monex for my kids. It will beat having to keep track of things on a spreadsheet.

Oh shit. I’ve just realized that after 8 hours slaving over spread sheets for work I’m increasingly using excel to track all manner of personal stuff. Not just finances but house electrical consumption, car “fuel” consumption, now solar production. Just checked and yep. I’ve pasted in a screen shot of my Tepco contract page. WT Actual F..
Obviously it’s too late for me. Let this be a warning to you all!
Not to be overly dramatic but, and to paraphrase, “I am become Excel. Destroyer of Word.”

Undo - Undo - Undo - Undo - Undo - ...

[beanhead]

I had the exact same problem. With MUFJ...

I am sounding like a broken record, but...
Use banks to get your salary paid into.
Use banks to set up direct debits for rent or mortgage payment or whatever.

Use online brokers/securities firms for long-term investing. Do not use banks for this purpose.

[cocacola]

If you transfer assets, you have to account for them, calculate the capital gain, and pay capital gains tax, and if over the Gift tax Threshold, the child would have to pay pay Gift Tax, as if you had sold the assets, paid the Capital Gains Tax, transferred the cash, paid Gift Tax, and then repurchased the assets

Ah, yes, I hadn't thought of the gift tax... the initial investment will most-likely grow to over the gift tax limit, so I'd have to pay even more tax on top of the capital gains tax. Nice one, Tkydon. I am now more solid in my plan to create junior Monex accounts for the little ones.

[cocacola]

Oh shit. I’ve just realized that after 8 hours slaving over spread sheets for work I’m increasingly using excel to track all manner of personal stuff.

I am finding that I am using spreadsheets to keep information on things not just numbers-related. I am doing some research on storage cabinets right now and am popping in links and notes on various choices onto a spreadsheet...

[Moneymatters]

Oh shit. I’ve just realized that after 8 hours slaving over spread sheets for work I’m increasingly using excel to track all manner of personal stuff.

I am finding that I am using spreadsheets to keep information on things not just numbers-related. I am doing some research on storage cabinets right now and am popping in links and notes on various choices onto a spreadsheet...

I think that's called "Scrapbooking" and you should start an Instagram page..

I've now started a sheet to measure capture dimensions as Secondary Windows is the next project on my list.
I'm not even sure if I want to reduce my energy bills further or I'm just attracted by the huge subsidies on offer.
Although it could be the nightly apparitions of a sad/angry Greta that are spurring me on.

[adamu]

Check out Obsidian for keeping notes.

https://obsidian.md/

[captainspoke]

If you transfer assets, you have to account for them, calculate the capital gain, and pay capital gains tax, and if over the Gift tax Threshold, the child would have to pay pay Gift Tax, as if you had sold the assets, paid the Capital Gains Tax, transferred the cash, paid Gift Tax, and then repurchased the assets

Clarification, please? Who pays tax on the gains?

I haven't yet, but have considered giving some shares of something to our kids in lieu of cash. And yes, the shares would have some gains. I thought the receiver of this kind of gift would pay any gains when they sold.

Are you saying that I, as the giver, would have to pay tax on the gains?

[Tkydon]

If you transfer assets, you have to account for them, calculate the capital gain, and pay capital gains tax, and if over the Gift tax Threshold, the child would have to pay pay Gift Tax, as if you had sold the assets, paid the Capital Gains Tax, transferred the cash, paid Gift Tax, and then repurchased the assets

Clarification, please? Who pays tax on the gains?

I haven't yet, but have considered giving some shares of something to our kids in lieu of cash. And yes, the shares would have some gains. I thought the receiver of this kind of gift would pay any gains when they sold.

Are you saying that I, as the giver, would have to pay tax on the gains?

The father who transfers the assets pays capital gains tax. It is the same as if he sold the assets on the same day.

Yes, you as the giver are transferring the assets, and so have to pay Capital Gains Tax on that day, the same as if you sell on that day. The Taxable Event is either the sale or transfer of the asset.

Then the child who receives the assets has to pay Gift Tax if the value of the assets takes them over the Gift Tax Threshold in that tax year.

[Moneymatters]

Check out Obsidian for keeping notes.

https://obsidian.md/

This is fun! Thanks!

I’m liking the graph view and dragging things around like I’m Ender from “Ender’s game”*!

* Being “narrowly read” this was just the second time in my life that I’d read the book before seeing the movie.
I’ve seen well over 5,000 movies..