Understanding what is capital gain taxes can help reduce the taxes you’ll pay when #investing. If you don’t know the difference between short term capital gains and long term capital gains tax rates, you could be paying more in taxes that you need to. Or you may not be prepared and receive an unexpected #tax bill.
00:00 – Start
00:13 – Accounts It Applies To
00:44 – What Are Capital Gain Taxes?
1:54 – Short term vs Long Term
2:44 – Tax Rates
5:58 – Reduce Taxes
7:38 – Final Thoughts
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10 comments
So you’re telling me I need to pay taxes on my yolo meme stonks positions? Time to create a shell corporation in the Cayman Islands
Great video! Someday I'll be a long term investor and pay long term, haha
Beware of wash salez,,, boiz.
There are some in congress that want to change the law to allow taxation on unrealized capital gains.
Short term and my options for me good this year! But, that means I did okay. 🤣
Hey Dustin, you should mention a disclaimer that your losses won't offset your profits if they count as a "wash sale", meaning that you sold a stock within 30 days of buying the stock at a loss. I believe this rule was implemented to prevent investors/traders from doing quick trades and invest long-term instead. These wash sales would show up on brokerage tax forms under "Wash Sale Disallowed"
Hey, wallers. We took the shot by you today
Don't fight the fed… stonks only go up!
Great Great video. I was looking forward to this one and learned a lot. Take care Dustin and keep the family safe!
One of the best explanations about LTCG vs. STCG taxes and what triggers each event 👊💥