Hi, virgin poster, so apologies if i'm asking already answered questions.
I have about $8000 in shares of an american company held for me by an American Financial services corporation and I have a few questions.
1) What is the max I can take out annually without incurring any tax losses?
2) With the exchange rate the way it is at the moment, is it possible to sell all of them and convert to euros but still leave them so as not to lose half of it to the tax man. In other words at what point are they taxed, when they are sold, when they are converted to euro or when they are transferred to an irish bank?
3) What would the general advise be, I'm not desperately in need of the money at the moment but like anyone else, i could do with it. Should i sell or not?
Again sorry, if these are stupid questions - i would not be considered a financial wizard!!
I have about $8000 in shares of an american company held for me by an American Financial services corporation and I have a few questions.
1) What is the max I can take out annually without incurring any tax losses?
2) With the exchange rate the way it is at the moment, is it possible to sell all of them and convert to euros but still leave them so as not to lose half of it to the tax man. In other words at what point are they taxed, when they are sold, when they are converted to euro or when they are transferred to an irish bank?
3) What would the general advise be, I'm not desperately in need of the money at the moment but like anyone else, i could do with it. Should i sell or not?
Again sorry, if these are stupid questions - i would not be considered a financial wizard!!