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Replies: 25
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All-In [40868]
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stock tip
Jan 18, 2022, 10:30 AM
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SELLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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Commissioner [976]
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Most analysts say this year is the year the bubble bursts
Jan 18, 2022, 10:38 AM
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And of course my employer just went public and I got a shitton of free shares that don’t fully beat for 2 years when they’ll be worth a tenth of what they are now probably.
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Commissioner [976]
TigerPulse: 78%
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Fully vest*
Jan 18, 2022, 10:46 AM
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Thanks, Bill Gates
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Oculus Spirit [75671]
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Joined: 10/26/03
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Commissioner [976]
TigerPulse: 78%
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Joined: 12/29/21
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You mean on a retirement account?
Jan 18, 2022, 12:03 PM
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Idk, but these were gifted stocks to try to keep some of us around. We paid zero so not sure how we could claim a loss since they’re not really ours til it vests. But my uncle is a big time accountant so I’ll ask. Can’t hurt to ask.
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All-In [47631]
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Re: You mean on a retirement account?
Jan 18, 2022, 12:14 PM
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Commissioner [976]
TigerPulse: 78%
Posts: 616
Joined: 12/29/21
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He handles a lot of Hollywood accounts
Jan 18, 2022, 12:20 PM
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He did the accounting for that show 24 the first time it was on. Very sleazy, and exactly who you want giving you advice.
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All-In [47631]
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BIL is an investment adviser in LA
Jan 18, 2022, 12:21 PM
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Does a lot of producers and directors (not A-list types but a tier down probably). Maybe they run in the same circle.
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Commissioner [976]
TigerPulse: 78%
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Joined: 12/29/21
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He’s up in DC now doing international stuff
Jan 18, 2022, 12:30 PM
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But was in LA a lot in the 90s and early 2000s. Mike Rinaldi is his name if your BIL was doing stuff back then.
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Oculus Spirit [75671]
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I don't know how gifted stock works never
Jan 18, 2022, 12:21 PM
[ in reply to You mean on a retirement account? ] |
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dealt with that. 2 jobs ago I did payroll, lots of folks got some stock shares as compensation. They had to be taxed as if it were cash. Doesn't seem fair to me to have to pay tax as like $100 a share when some dolt could screw around and make it only worth $10/share.
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Commissioner [976]
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I got an email saying when it vests I can auto sell enough to pay the taxes on it
Jan 18, 2022, 12:28 PM
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But sucks that it counts as income and not capital gains
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All-In [33418]
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Taxes on a retirement account?
Jan 18, 2022, 4:25 PM
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Usually you can buy/sell with no tax consequence unless you pull money out of the account itself, is it some kind of ESOP or something?
Also you should see if you can put some kind of hedge on it, like buying puts or writing a covered call on it...maybe do it in your own brokerage account instead of whatever retirement account this is (likely a no-no from corporate though)
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Commissioner [976]
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They forced me to create an etrade acct to get it.
Jan 18, 2022, 4:39 PM
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It was called an RSU grant. Basically over 2 years I get about 5000 shares. I got about 30% up front and there’s a vesting schedule along with windows when I can sell.
First time with this so I’ve just been asking around for help to understand it.
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Oculus Spirit [80968]
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AFAIK, you can't take a loss on it.
Jan 18, 2022, 5:39 PM
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But you sure can (and will) pay taxes on the proceeds when you sell it.
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Commissioner [976]
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Indeed. Everything is taxed
Jan 18, 2022, 5:59 PM
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I was planning on taking the option to sell enough to cover the taxes when it vests and then keeping the rest for a rainy day as long as it’s performing above inflation, which by then might be like 30%
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Lot o points [163008]
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At that time, you have "basis" in the stock
Jan 18, 2022, 6:06 PM
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and any gain or loss after you exercise will be taxed at capital gain rates.
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Commissioner [976]
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That’s good to know
Jan 18, 2022, 6:09 PM
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I wish there was an option to just push it into my 401k for the tax benefit. They should have made that an option.
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Lot o points [163008]
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So many rules companies have to deal with in retirement
Jan 18, 2022, 7:01 PM
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plans - using stock options gives them more flexibility - they can give you as much as they want and give co-worker less or more - retirement plans have to be non-desciminatory - same benefits for all - like a percentage of income.
Plus with stock options, you can keep it or sell it - your option. Most sell enough to pay taxes like you said.
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Oculus Spirit [80968]
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CU Medallion [55644]
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Commissioner [976]
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I got some NIL deals
Jan 18, 2022, 6:00 PM
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For local bbq joints and men’s supportive undershirts.
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CU Medallion [59974]
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I have a very small UBS account
Jan 18, 2022, 10:50 AM
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from my last job. They stuck their shares in there with some others and made a little portfolio. Last month was the first time I lost money in 3.5 years. Not sure what that means but it’s not good.
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Legend [19919]
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Why do you always say sell when the prices drop?
Jan 18, 2022, 1:10 PM
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You do know you’re supposed to buy low and sell high, right?
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Hall of Famer [21845]
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sir, this is a wendy's***
Jan 18, 2022, 4:31 PM
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Oculus Spirit [81619]
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All-In [30804]
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Joined: 11/1/03
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This would’ve been a tip 2 days ago.
Jan 18, 2022, 7:05 PM
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Today, it’s the whole shaft all the way to the balls
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50
