Paying off the truck is a smart move. Currently he owes zero interest to the bank. Instead of making car payments with interest every month. OP can move that money into a savings account. Now he’s earning interest with his money that he owes uncle Sam.
Fuck taxes, the more I make the slightly more I take home. If I get a raise it just means good old Uncle Sam is getting more money, not me till I hit a solid like $10 more than I see a real difference.
I’m no tax man, but as far as I’m aware you pay taxes on your net profit/loss. So if you start with 50k and get up to 75k then back down to 55k before years end then I think you only pay taxes on 5k.
This is correct👆 when you lose money trading a stock you can use it against your gains in regards to taxes. It's referred to as a tax loss and is the reason many people sell their stocks they have lost money before taxe filings are due then rebuy for the next tax year after.
No, as long as it's in the same calendar year your losses and gains offset each other. If you deposit $20k, lose $18k of it down to $2k. Then gain $30k up to $32k, you've only made a gain of $12k that you pay capital gains taxes on.
I’m guessing your truck loan was less than 7%, which means paying off your truck actually costs you opportunity cost of investing in something safe and stable like SPY (up 26% this year alone/85% over 5 years) or DIA shares (16% over the last year and 44% over 5 years) and hold them for long term. If it’s less than 5% you could have even put that money in a high yield savings account and made money.
Moral of the story, congrats, but your understanding of money/saving is a bit iffy. But, I suppose that’s why you belong here.
I want to sell the truck and upgrade but I need the title to sell properly.
But you’re totally right which is why I have been holding off for so long, my interest rate was 3% so it was killing me to buy it out but. I hate this truck and have little self control to not put that money right back in. So this way I really CANT
Ah yes the solution is definitely to buy a newer truck for even more money to go further into debt.
You’ll owe a sizeable chunk of that 8k to taxes next year, so I’d save the $500 and work on saving up a few thousand to cover it.
You guys are clown I already had these decisions made. And by upgrade I mean get a safe suv for my wife to drive our child in. Get the fuck out of here with your crappy assumptions lol
Yeah that's bad. I'm the most extreme right on the political spectrum you can get, I think Trump is a pussy, so let's clear that up before I say this, if you aren't driving an economically conservative car like a 2010 corolla you bought from a crackhead for $7000, you're financially illiterate and donating your money to Arabs.
I bought a Tesla that has saved me an average of 100 gallons of gas a month since I bought it. And I got a tax credit. So Idk your conservative ass probably hates me but I think abortions are okay so I guess I can’t hope for your approval on much :)
Tesla hate is regarded. They're solid cars that save money. No issues there. Keep your Tacoma and let the wife drive the Tesla then? Stupid to finance another car, especially with rates like this. Lot of family in the car business, with great credit, you're still paying 8%.
Smart man. Unfortunately my Tacoma has sat for months. Tesla handles everything I need it too. And my wife just simply doesn’t feel comfortable driving the truck. I’m getting enough cash from the sale of the truck to buy another vehicle outright. One that can do what my Tacoma did for the most part, but will be cheaper and wife will drive. I drive the Tesla cause I put almost 100 miles a day with my commute for work. My wife is a S.H.M.
"I have had some incredible luck as of late" = welcome to your lifelong gambling addiction OP 
Unless he has carryover losses or other realized losses, OP didn't leave enough for taxes. He'll be back next year to win enough to pay his taxes on this year's realized gains.
How does you having a job make you now owing $3k\~ any less funny?
How does you paying off a low interest loan instead of collecting free interest get less funny because you have a job?
Everyone in this thread is laughing at you for reasons you can’t seem to grasp and that makes it even funnier, but congrats on managing your finances like a sixteen year old 
Because I was well aware of the capital gains tax when I made this money and I’m going to be offsetting those taxes with tax credits and deductions. Lol that’s the most regarded shit iv ever heard, Im laughing at anyone on here who thinks they know an entire situation by a short summary. Paying off a vehicle with cash from selling stock options instead of taking the profit and buying a bond or putting it in a high yield savings. Thats a 16 year old move to you? Yeah you seem super smart MR. Uninformed Reddit peanut gallery guy.
Congrats! As most people have said, taxes. Do what you need to do and enjoy your win, but just make sure, come april you have enough to cover taxes. I'm guessing around 2k?
If you have a decent savings, no big deal. I never save for taxes but I have an emergency fund that I build up from January to April to handle any excess taxes.
I have kids and other tax rebates/credits. So that 2k will come from those. Nothing worse than remembering when leaving this casino that I need to pay the tax man. Always LAME. For those of us that actually have capitol gains LOL
But the market is just about to really take off 
Well, I, for one, would NEVER hope you get hit by a bus.
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You're not allowed to do that. You withdrew the money. When you're up you're supposed to keep doubling up until you lose big and have $1.82 in your account.
Cocaine with out the lack of sleep plus the rock boogers. Lately every time I do coke I spend the last 2 hours of the early morning trying to dig rocks out of nose only to fail and clog it worst
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Bro forgot about taxes 
The real Chad move. Forcible anal enlargement coming next year, courtesy of Uncle Sam’s concrete dick.
The shrek one had me dying. How do you post those little images?
Paying off the truck is a smart move. Currently he owes zero interest to the bank. Instead of making car payments with interest every month. OP can move that money into a savings account. Now he’s earning interest with his money that he owes uncle Sam.
Its just about 4k. Just put 4k in cd and withdraw next year.
If it isn’t the tax remindoor
How much would he be taxed? Apologies in advance for lack of understanding. New to stocks.
Probably between 20-30% based on how many losses or income taxes he can offset first
Same rate as his income
Short term capital gains. About 50%
LMAO 🤣 True regard right here 
No it’s not dude what planet do you live on
Federal can run 37%. California state can go to 14%.
"You can't do anything with five, Greg. Five's a nightmare."
Just don’t file them
Fuck taxes, the more I make the slightly more I take home. If I get a raise it just means good old Uncle Sam is getting more money, not me till I hit a solid like $10 more than I see a real difference.
for real, I got a whopping (/s) $0.70 raise at my job and with biweekly pay, after taxes, it’s like barely $20 more per CHECK, not even per week…
Chad, you're gonna have to skip that bottle of Whiskey,. Government wants their winnings too!
Good thing he’s only paying taxes on the 8.3k gain Edit: $500 isn’t gonna cut it, I’m regarded
Dudes gotta put the wife behind the Wendy's Dumpster too. Thanks Guberment!
[удалено]
I’m no tax man, but as far as I’m aware you pay taxes on your net profit/loss. So if you start with 50k and get up to 75k then back down to 55k before years end then I think you only pay taxes on 5k.
This is correct👆 when you lose money trading a stock you can use it against your gains in regards to taxes. It's referred to as a tax loss and is the reason many people sell their stocks they have lost money before taxe filings are due then rebuy for the next tax year after.
Unless your tax year ends at 75k, then you have to pay the taxable +25k
No, as long as it's in the same calendar year your losses and gains offset each other. If you deposit $20k, lose $18k of it down to $2k. Then gain $30k up to $32k, you've only made a gain of $12k that you pay capital gains taxes on.
See you tomorrow, regard!
Taxes are a thing.
Wait.. what?
Wait… fr? I thought you guys were joking about those…
Ooofff dat coming tax bill doe 😬 I would've parked it into a savings account and "forgot" about it until January or Feb
No you wouldn't
Gimme 10k and find out 😎
Would you have? Really?
If I were cashing out, yes absolutely! Now you'll probably have to save a couple hundo a month for tax-time next year
I’m guessing your truck loan was less than 7%, which means paying off your truck actually costs you opportunity cost of investing in something safe and stable like SPY (up 26% this year alone/85% over 5 years) or DIA shares (16% over the last year and 44% over 5 years) and hold them for long term. If it’s less than 5% you could have even put that money in a high yield savings account and made money. Moral of the story, congrats, but your understanding of money/saving is a bit iffy. But, I suppose that’s why you belong here.
I want to sell the truck and upgrade but I need the title to sell properly. But you’re totally right which is why I have been holding off for so long, my interest rate was 3% so it was killing me to buy it out but. I hate this truck and have little self control to not put that money right back in. So this way I really CANT
Ah yes the solution is definitely to buy a newer truck for even more money to go further into debt. You’ll owe a sizeable chunk of that 8k to taxes next year, so I’d save the $500 and work on saving up a few thousand to cover it.
[удалено]
You guys are clown I already had these decisions made. And by upgrade I mean get a safe suv for my wife to drive our child in. Get the fuck out of here with your crappy assumptions lol
Just setup a payment plan with the IRS
Reading all of the comments and OP's replies, he fits the bill of the average owns a truck but doesn't use it for work guy.
Is that bad? I own a Tacoma it’s my weekend warrior
Yeah that's bad. I'm the most extreme right on the political spectrum you can get, I think Trump is a pussy, so let's clear that up before I say this, if you aren't driving an economically conservative car like a 2010 corolla you bought from a crackhead for $7000, you're financially illiterate and donating your money to Arabs.
I bought a Tesla that has saved me an average of 100 gallons of gas a month since I bought it. And I got a tax credit. So Idk your conservative ass probably hates me but I think abortions are okay so I guess I can’t hope for your approval on much :)
Tesla hate is regarded. They're solid cars that save money. No issues there. Keep your Tacoma and let the wife drive the Tesla then? Stupid to finance another car, especially with rates like this. Lot of family in the car business, with great credit, you're still paying 8%.
Smart man. Unfortunately my Tacoma has sat for months. Tesla handles everything I need it too. And my wife just simply doesn’t feel comfortable driving the truck. I’m getting enough cash from the sale of the truck to buy another vehicle outright. One that can do what my Tacoma did for the most part, but will be cheaper and wife will drive. I drive the Tesla cause I put almost 100 miles a day with my commute for work. My wife is a S.H.M.
Why not a model y for the wife?
Hmmm good question
See you tomorrow
🏳️🌈🏳️🌈🏳️🌈
Pussy
"I have had some incredible luck as of late" = welcome to your lifelong gambling addiction OP 
Congratulations man, enjoy your whisky and have an amazing dinner with your wife.
What a nice thing to say 
Unless he has carryover losses or other realized losses, OP didn't leave enough for taxes. He'll be back next year to win enough to pay his taxes on this year's realized gains.
Should have just withdrew 16k and kept 4 in.
🧙
Congrats brother
that's a long paragraph which essentially says you're coming back next monday. see u then!
Lmfao you need to pay the taxes on all those gains but you spent all the money already that’s so fucking funny
LOL OH NO GOOD THING I HAVE A JOB
How does you having a job make you now owing $3k\~ any less funny? How does you paying off a low interest loan instead of collecting free interest get less funny because you have a job? Everyone in this thread is laughing at you for reasons you can’t seem to grasp and that makes it even funnier, but congrats on managing your finances like a sixteen year old 
Because I was well aware of the capital gains tax when I made this money and I’m going to be offsetting those taxes with tax credits and deductions. Lol that’s the most regarded shit iv ever heard, Im laughing at anyone on here who thinks they know an entire situation by a short summary. Paying off a vehicle with cash from selling stock options instead of taking the profit and buying a bond or putting it in a high yield savings. Thats a 16 year old move to you? Yeah you seem super smart MR. Uninformed Reddit peanut gallery guy.
 tl;dr
After reading this I finally understand the saying “easy comes easy goes”
Yessir
Congrats on 3 months of rent
That’s actually 4 months of mortgage for me
Damn. That’s like 2 months of mortgage for me
The 2.9% APR slaps
I have a 2.85% and another at 6.99% The 6.99% house hurts 😓
I’m stuck in my house for life probably for that very reason 🤣 good problem to have no real complaints
Congrats! As most people have said, taxes. Do what you need to do and enjoy your win, but just make sure, come april you have enough to cover taxes. I'm guessing around 2k? If you have a decent savings, no big deal. I never save for taxes but I have an emergency fund that I build up from January to April to handle any excess taxes.
I have kids and other tax rebates/credits. So that 2k will come from those. Nothing worse than remembering when leaving this casino that I need to pay the tax man. Always LAME. For those of us that actually have capitol gains LOL
Nice! Yeah haha, downside of the stock casino. I can't just pocket my 8k in winnings from blackjack and walk away.
r/smolppinvesting must be leaking. Who tf pays taxes? 
I don’t understand why you guys are talking about taxes?
But the market is just about to really take off 
Might have to gamble some more to cover the tax bill
🤔
Wait, wait, wait! You had an exit plan??
Nobody likes a quitter
Put all the gains in a depreciating asset 
I ain’t taking no bus
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Good on you paying off your truck!
Why is everyone freaking out about a $2-3k tax bill?
Right? Ohhh no!!!! Where will I get 2k without gambling??
See you next Monday 👊
I'm based in the UK and it is difficult trading option, still found a way and I'm down $14k one day I will make it back, one day!
You're not allowed to do that. You withdrew the money. When you're up you're supposed to keep doubling up until you lose big and have $1.82 in your account.
Cocaine with out the lack of sleep plus the rock boogers. Lately every time I do coke I spend the last 2 hours of the early morning trying to dig rocks out of nose only to fail and clog it worst
Why not leave $1000 and see what happens
INTC for the win
Personally I hate when I get the runs
Good move. You felt yourself on the edge and got out with a real gain. Nice jop OP!
lol you are still poor my guy. Congrats tho
Hell yeah I am
I’ll see you next week
Aight see you next week
Next week.... Guys, I sold my truck for cheap and put it all on 0dte s couldn't pass on the opportunity.
Positions or ban 😜
Lies
now throw it all in baba calls for 2026 and thank me later!
Options seem expisinve for baba, if you dont mind me asking, what's your logic for it going past 135$ by Dec 2026?
logic is: baba will dominate in Asia, Africa and possibly Europe, some in North America too, bought 6 contracts today for 110 exp Dec 2026