āBEGINNER TIPā (DOUBLE EDITION) (TAX CALCULATOR & SLICES) šø
Still way too much misinformation about taxes, especially short term so i found an awesome TAX CALCULATOR on Public that will tell you how much you'll pay in taxes everytime you make a gain!(its not 100% but it'll give you a close idea of what it'll be) š²
https://public.com/capital-gains-tax-calculator
Here's a video explaining short term and long term taxes if you want to learn what tax bracket you might fall in and what you might pay (not a shot a Public but i feel i broke it down in a far easier to understand manner than what's in the calculator link)
https://www.youtube.com/watch?v=RDqEeZTedyI&t=2s
Slices Explainedš
Here on Public you are able to buy slices of a stock, but what are they?
A slice is exactly what it sounds like, usually its a slice or a part of a share. In other words instead of buying whole shares like normal you can buy dollar amounts. So for example if you want invest into $AMZN but cant afford to buy an entire share, you can instead just buy a slice of however much you can afford or want to buy. You donāt need the entire amount to be able to buy a position into a company. You can buy a slice thats as small as $1 and as big as any amount.
How does it work?
Does that mean if i buy $100 of $amzn @ $3200 and it goes up 10% to $3520, my slice will be worth $420?!
No,when you buy slices you have to look at the percent and not the dollar amount, so if you bought a slice of $100 and it went up 10% then your slice would go up $10 and now be worth $110. Always keep this in mind since many people think a slice will earn the same amount of dollars a whole share. Another way of looking at it as a great reminder is a slice of a share is just a fraction of a share so since you bought a fraction, your return will only be a fraction of a shares gain.
DIVIDENDS ON SLICES, DO YOU GET THEM?
Yes you do! just like the gain you get as a percentage/fraction, you also get the dividend as a fraction. It won't be much but at least you will still get your dividend.
SLICES AND FORWARD/REVERSE SPLITS, HOW DO THEY WORK?
This one is a bit tricky because it depends on what the company chooses. Sometimes they will give people who own fractional shares a whole shares during a reverse split or even smaller fractional shares during a forward split.
Sometimes they'll just liquidate the frational share and pay back what it's worth.
To know for sure you'll have to look it up but you most likey wont find out until after it happens
Steps to Buying/Selling slices
When youāre on $The Companyāsā stock page tap TRADE
(IF THE SLICE TAB DOESNT PULL UP CONTINUE)
Tap BUY/SELL whichever youāre doing
The āBUY/SELL $THE COMPANYā tab will come up and on the lower left corner thereās a bubble with 3 dots
āCHOOSE ORDER TYPEā tab will come up
āSLICESā
āMARKET ORDERā
āLIMIT ORDERā
āSTOP ORDERā
Tap āSLICESā and a tab like the first one will come up āINVEST IN $THE COMPANYā and you can choose the certain amount of money you want to invest/sell.
THERE'S A DRAWBACK TO SLICES
The problem with slices is you can only sell them through MARKET ORDER! LIMIT ORDER is not an option at all.
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