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Many investors, both individuals and professionals alike, have certain tendencies. One of these tendencies is to trade in and out of the same set of securities, often because of the investor's familiarity with those securities and perceived improved sense of their value. A second tendency is to "sell low", which is the opposite of what many advisors may encourage you to do but is what so many investors do, including at the bottom of the recent stock market crashes. A third tendency is to "tax-loss" harvest, which is the practice of selling a sufficient amount of securities, held in a taxable account, to offset your capital gains and have $3,000 of additional capital losses, which is the maximum amount that you can deduct against your earned income in most circumstances.
Recent developments regarding comprehensive immigration reform in our nation's capitol are intriguing, but the plans are still in infancy and vague. On January 28, 2013 eight U.S. Senators, led by Sens. John McCain (R-Ariz.) and Chuck Schumer (D-N.Y.), unveiled the outlines of an immigration plan. The statement of principles is rather broad. It sets out "four basic pillars": 1) a "tough but fair path to citizenship . . . contingent upon securing our borders and tracking whether legal immigrants have left the country as required"; 2) reform our legal immigration system with a greater eye toward our economic needs; 3) workplace verification; and 4) setting up a system for admitting future workers. In essence, the eight senators acknowledge that the U.S. cannot deport the 11 million (or any substantial fraction thereof) undocumented immigrants. The outline can be found here: http://tinyurl.com/bfksdrp. The Senate Judiciary Committee is holding hearings on immigration reform in February, and some expect a bill in March 2013.
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