Tom Nash patreon

Taxes on Stocks: What You Have to Know (Patreon Exclusive Video)

🕑 Added 2021-02-14 08:30:38 +0000 UTC

Comments

Dawn Shapiro

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.

Matthew

Very good Tom. Thanks. Knew most of it, but a nice concise reminder.

Michael Schmeling

Tom, I knew most of what you said, however did not realize the unrealized gains. I say keep videos like this coming.

EV Bike Dude

You 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

I'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.