Another Tax Question(Do I pay on each trade or end year)

Discussion in 'Taxes and Accounting' started by Bullz n Bearz, Jul 8, 2007.

  1. Hi, Id like to know if I have to pay taxes on each profitable trade that I make or does the IRS want me to pay tax(cap gains, etc) on my end year total balance?

    Thanks!
     
  2. be smart and talk to a accountant , every situation is different, easiest way to get the right answer for yourself.
     
  3. thanks , but i'd really like to know if anyone on ET knows..
     
  4. Check out estimated taxes, paid quarterly.
     
  5. Also get to know IRS Form 2210 inside and out so that you understand where the penalties come from when you don't file adequate quarterly payments.

    Note that you get a free ride if your income increases as long as you have either had withheld or made estimated payments equal to your last years tax liability...

    A good CPA is worth his/her fee...
     
  6. BULLZ.. its either every quarter, estimated taxes, or at the end of a calender years, their are many variables, so you asking a questiosn that is difficult since your being so vague, if you want some opinions, give more details...?
     
  7. nkhoi

    nkhoi Moderator

    just pay year end total, if they want you to file quaterly, they will let you know.