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Posts & Investments - #taxes

#taxes #capitalgains #publiccommunity As we move toward the end of the year I just want to put out a reminder about capital gains tax. Remember, if you sell for a profit after owning a stock for less than a year you are taxed at a much higher rate than if you hold for a year or longer. Reference the graphic below I'm sharing from the WealthSquad Instagram page for all the numbers.
Added XPeng to long-term portfolio
Me to me: One of many advantages of #longterminvesting is that we pay much less in #taxes than if we are an active #shorttermtrader (those who keep their #investments for 365days or > ). So, like “date with intent to marry” ?lol otherwise if we play around, we pay tax at a top marginal tax rate…This could be anywhere from 10-40% ?! 💀 #Longterm #capitalgainstax are either 0%, 15%, or 20% at the #highest (depending on our #income ). Thanks for coming to my TED Talk.
Invested in H&R Block
Invested in Shiba Inu
Sold Enphase EnergyInvested for 70 days
TurboTax is being sued by the government, those advertisements they were running about filing your taxes for free….. turns out you actually have to pay 🤷🏽‍♂️. The jig is up $INTU it was a good run but at least people won’t mind paying extra for a service that eases the use of filing your own taxes, it’s not like the IRS makes it any easier even for free. #taxes #marketing #thatswild
With crypto comes taxes 🗂️📑👨🏾‍💻. MarketWatch breaks down the basics of crypto and taxes in this helpful video below 🤓🔻 👇🏾: ⚠️️ Nothing beats the advice of a certified public accountant or tax preparer who can assist you with any tax-related questions.See more
#Taxes Paying taxes is a must, but avoiding taxes should never dictate your investment strategy. That is why they say "Don't let the tax tail wag the dog." With that being said, learning to be tax efficient is helpful and keeps you from leaving money on the table. A #NewInvestor should first be aware of what short and long term #CapitalGains and #CapitalLossesare. Once comfortable with this then youSee more
⚠️Don’t get washed out⚠️ There have been some quality posts lately tackling the end of year investment options. Whether you’re going to sell to consolidate, sell to realize capital loss, or sell because you simply want to move on, remember this rule. The Wash-Sale Rule (Investopedia) The wash-sale rule is an Internal Revenue Service (IRS) regulation that prevents a taxpayer from taking a tax deducSee more
Over the last 2 weeks or so, Elon has been talking indirectly about selling his some of his $TSLAstock for various reasons. 🙃😅 📌Many don’t know that Elon only holds 193.3 Million $TSLA shares, representing 20.7% of total shares outstanding. I have a spidey sense at WHAT + WHY he wants to unload them for, yet - here’s the instances I’m referring to: UN: more
Yes! 39.4%
No! 27.55%
Doesn’t hurt my holdings!33.05%
1,274 votes Ended 11/14/21
WOW.. it looks like Elon will be selling his shares (Twitter vote) what will that do to $TSLA?? #tesla #elon #twitterSee more
November 5, 2021
TAXES ON CRYPTOS? I’ve been getting a lot of questions about the infrastructure bill and how cryptos will be taxed. As of now, you only pay taxes once you actualize your profits (withdraw). Small amounts won’t matter as much, but if you’d made bags and want to spend some of that mullah, you’ll want a good exit strategy. Have you seen those wallets that allow you to borrow against your crypto? LikSee more
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