Great, I see what you mean. So in order to track the current tax bracket, I will need to record every trade in a tax software and look at the...
Traders outthere, let me know how do you withdraw profits and organise your tax amount. I don't wanna mess up with Uncle Sam :D
So do I just pick a percentage with instinct, and evrytime I need to withdraw money, I set aside this percentage of profit in my 2nd account for...
That's my initial thought as well. But how do I know the right percentage of profits to set aside ? Say If someone is very profitable, he end up...
The story is a bit long, how come you lose money and still need to pay tax to IRS ? Did you trade in loans ?
Let me know if I am trapped in a stupid mindset, or this actually matters for traders .. ;)
Yeah, I see what you mean. Following on your example, Let's say I started the year with 50K, but during the year I keep withdrawing the profits...
I see
Yeah, will check this out thank you, I think the other day I watch his presentation video for tax filing. By the way, I think this is like one of...
Just a normal account. Yeah you are right, whenever a trade makes profit, the tax is triggered no matter I withdraw money or leave them in the...
I'm trading stock. I have done some research and watched videos about tax preparation software. They have very details explainations about how to...
I am aware that trading profits are taxed at a certain rate depending on the amount I make. Since tax is only reported once a year, but I can...
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