"A good guide to
managing your
investment taxes..."
The Intelligent Investor
by Graham, Zwieg
& Buffett



Robert Gordon's
Monthly Column in




Optimal Retirement Withdrawal Strategy



Current Options
Disclosure Document

 (PDF Format) 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Twenty-First
Securities Corporation

780 Third Avenue
New York, NY 10017
212.418.6000
info@twenty-first.com

Strategies for the professional investor

Twenty-First Securities is a multi-faceted     brokerage and investment organization     dedicated to achieving superior returns     while managing risk.    


  FEATURED ARTICLES

Taxation and Economics of Foreign Dividends: It Can Take a Lot of Work to Get One's Fair Share: This article outlines the potential tax traps investors may trip into when they invest in dividend-paying foreign stock, and especially when they hedge their investments by using puts.

Is Mark-to-Market Taxation on the Horizon?: Congress is considering a switch from realization-based capital gains taxation to an annual mark-to-market model.
How to Approach MLPs:

Not All MLP Funds Created Equal: Some go to extraordinary lengths to qualify for preferential treatment under  the tax code

Avoiding the Corporate Level of Tax: MLPs, REITs and more

The Best Way to Own MLPs

The Best Way to Play Kinder Morgan: Corporate structure designed for tax-exempt investors may benefit taxable investors as well

Hedge Funds and the Taxable Investor: High-Income taxpayers in investor hedge funds can be paying hundreds of basis points of tax on phantom income. There are possible solutions to this problem but none are without some baggage.


NINGs Get Dinged in New York

Two Items for the New Year: How to treat roth conversions and incentive stock options (ISO's) in the new year.

Maximize Loss Harvesting Year-Round: This tax-efficient strategy can improve returns, as long as it doesn't run afoul of the tax code

Giant Dividends: Bonanaza or Tax Trap?: Consider different scenarios for owning shares of companies dispersing windfalls to shareholders

Optimizing the Use of GRATs: When you start has a lot to do with how much you leave your kids

Holding Periods are a Moving Target: Minimum time required to hold an investment and qualify for preferential tax treatment has varied

Tax Benefits of SMAs?: It’s all about control of the portfolio’s parts
GRATs: The Time Is Now...
The 21st Century Solutions to Hedging Low-Basis Stock
How are your ETF Options Taxed?: The taxation of options on exchange traded funds (ETFs) hinges upon both the structure of the fund and whether the option is listed or over-the-counter.
Passive vs. Active for the Taxable Investor
Tax Reform of Financial Products?: The idea may be theoretically interesting, but it is too complex and practically unworkable?
Structured Notes - Build Them Yourself: Lower costs and better tax treatment are possible if an adviser goes solo. See also: SEC on Structured Note Pricing
The Most Tax-Efficient Way to Own Gold...
Investors and the Carried Interest Debate: Changes being mulled in Congress would affect taxes paid by fund investors, as well as managers

Mutual Fund Playground: Prohibitions have been ending slowly, and the door to hedge-fund like expenses is now open.

Harvesting Losses with Options: There are ways to take losses with minimal disruption to alpha.
Commodities ETFs Can Be Taxing: With these complex products, an unexpected tax bill may arrive.
Losses on an ETF: Is there a way to take my loss on an Index ETF without having to exit the index and NOT trigger the wash sale rules?

If Corporate Tax Rates Decline, Who Would Benefit, Who Would Get Hurt?: If corporate tax rates are lowered, some corporate tax payers will be negatively affected
Convert Roths Early In the Year...
Straddle Rules 25th Anniversary: Twenty-First invited the leading minds to weigh in on problems caused by the straddle rules. The resulting article (from 20 authors) was printed in tax notes®.
The Estate Collar: Volatile markets call for clever solutions so that, after a death, estates can profit from upswings--or downswings.
When Is A Dividend Not A Dividend: Sometimes a distribution turns out to be a return of capital, which has its advantages.
Making Most of Excess Capital Losses
Are Deferrals Worth It?: Deferring into a higher tax rate only makes sense with double-digit returns or long time frames.
Selling Covered Calls: Investors can reap the rewards of selling covered calls without ever delivering their low-basis shares.
Special Dividends: Familiarization with the complex way in which they're treated is important for investors.
When ETFs Pass Along Gains: While ETFs can minimize taxes, 
there are caveats.



After Tax Cost of Charitable Contributions: Our analysis concludes that for those in high tax states, the after tax cost of a charitable donation has NOT gone up and may have actually decreased

Stealth Taxes: How stealth taxes impact investor costs.
ETNs Under the Microscope: Currency ETNs are debt, other ETNs are open for comment.   Op. Ed. in InvestmentNews.
  Best Place For Growth Stocks: Are IRAs the best “pocket” for growth stocks?







 




 

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