Tax Day, from James Sogi

March 27, 2008 |

1040Many had some good returns last year and will be paying the piper on tax day. Many of those same have not had such good returns this year and will be digging deep to pay those taxes from last year. Vic and Laurel have commented in the past on the consequences to the market in general around tax day. I wonder how such stats stack up on a down first quarter after an up year.

Alan Millhone replies:

I had pondered that point. Traders needing cash on tax day might dip into their securities accounts for dollars they need to pay Uncle Sam. Might be a good time to carefully watch the market for some good buys. My late father used to take any deduction that might fall into the gray area. His thought was, take the deduction, and if questioned, pay the money/penalty. That way you had the use of that money to make more with.


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