Taxes on Stocks: What You Have to Know (Patreon Exclusive Video)
Added 2021-02-14 08:30:38 +0000 UTCThis is a short 6 minute video I made to explain to you how your stock market gains will be taxed and what you need to do to stay out of trouble.
Comments
Only thing I didn't know was the different levels of long term tax.. Thought it all was at 20%. Not an issue this year but thx.
Dawn Shapiro
2021-02-17 16:36:46 +0000 UTCVery good Tom. Thanks. Knew most of it, but a nice concise reminder.
Matthew
2021-02-14 16:57:16 +0000 UTCTom, I knew most of what you said, however did not realize the unrealized gains. I say keep videos like this coming.
Michael Schmeling
2021-02-14 14:39:08 +0000 UTCYou may also have to pay "withholding tax" in the US as well, usually the broker, TD, ET etc. will deduct that. I also assume I reduce my tax liability by the amount withheld, otherwise you'd be paying double tax - which also does happen.
EV Bike Dude
2021-02-14 12:03:23 +0000 UTCI've not watched it yet, but presumably this is for US citizens? How things are taxed depends on where you are a citizen, so this may not apply to everyone. e.g. I pay 33% on all capital gains, irrespective of how long it's held. Other EU countries use e.g. 20% and apparently Malaysia has ZERO CGT .... I'm not sure, but some countries maybe don't allow loss carry-forward too? Worth checking your applicable local laws/tax regime for sure. In addition to this, certainly in my country, dividends are considered income and you have to pay your normal income tax on them which could be more or less than the CGT % depending on your local rules.
EV Bike Dude
2021-02-14 11:57:15 +0000 UTCNice and concise Tom - yes happen to know everything you’ve covered. Have a great weekend - Mike
Mike Lin
2021-02-14 11:32:19 +0000 UTCI think all basics are important! So keep throwing these type of stuff at us we’ll eat it all as appetizers lol
Vladyslav
2021-02-14 11:02:47 +0000 UTCNo. You pay taxes in your country of tax residency
Generico Fakero
2021-02-14 10:59:22 +0000 UTCNice blazer !
Elie Bellama
2021-02-14 10:54:41 +0000 UTCIs that for USA only? If you a re resident of the EU, but made money on American stock broker for instance TD would you need to pay taxes in USA?
Ed Puotkalis
2021-02-14 09:46:55 +0000 UTCThat was pretty useful, Tom, thanks!
Könnyű Mátyás
2021-02-14 09:13:45 +0000 UTCThanks mate
Langston Barlow
2021-02-14 08:41:27 +0000 UTCThank you for keeping it simple
Mester
2021-02-14 08:40:55 +0000 UTCThank you Tom!
Lennon Qualmann
2021-02-14 08:31:59 +0000 UTC
