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How to Calculate a Tax Holding Period for Stock Investments

KXLY
January 24, 2021 6:49 AM
[email protected] (Charlene Rhinehart, CPA)
Posted:
Updated:
January 26, 2021 3:58 AM
The stock market provides investors with a great opportunity, but if you don’t understand how holding periods work, you may also give up a lot of your gains through taxes.
The holding period is the amount of time you’ve owned a stock, and this time frame can be the difference between paying no taxes or giving up thousands of dollars to the IRS. To clear up any confusion around holding periods and how it may impact your tax bill, here are some points to remember as you prepare to file your tax return. ....

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IRS Tax Table 2020: What You Need To Know About Your Tax Bracket

IRS Tax Table 2020: What You Need To Know About Your Tax Bracket
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How Does the IRS Calculate Your Income Tax?

WKBT
January 12, 2021 9:03 AM
[email protected] (Charlene Rhinehart, CPA)
Posted:
Updated:
January 14, 2021 8:59 AM
If calculating your income tax ever felt like an unsolved mystery, it’s time to unlock the code and eliminate your concerns especially since taxes aren’t going away. Here are some steps to show you how the IRS calculates your income tax so you’ll have more control over how much you pay when you file your taxes.
Start with gross income
Your gross income is the starting point for calculating your income tax. Although it’s tempting to only put wages and salaries in this category, you also have to consider income from business, interest, dividends, capital gains, and retirement, just to give you an idea of other popular sources of income. ....

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Tax Talk: The new year brings new tax problems

Q. I retired at the end of 2019. In January 2020, I received my last two paychecks from my employer which were dated Jan. 2, 2020 and Jan. 10, 2020. ....

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