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dj_fuzion
Joined: 08 Nov 2007
Posts: 2017
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 Posted: Wed Dec 12, 2007 6:45 pm Post subject: How much should I pay Uncle Sam out of the returns on my s |
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How much should I pay Uncle Sam out of the returns on my stock investments?
What % of my earning will be taken as taxes if my full time job is pattern day trading? I know it depends on deductables, write offs, and all of those kind of things, but Im just looking for a in the neighborhood type figure. Thanks in advance. |
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Angelica Chan
Joined: 08 Nov 2007
Posts: 2120
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| Posted: Wed Dec 12, 2007 6:45 pm Post subject: How much should I pay Uncle Sam out of the returns on my s |
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| 5 to 15%, So its a much more favourable deal than working for someone else |
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Lorenzo Kelly
Joined: 08 Nov 2007
Posts: 2097
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| Posted: Wed Dec 12, 2007 6:45 pm Post subject: How much should I pay Uncle Sam out of the returns on my s |
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| Your returns will be short term capital gains, and you must pay full tax on them, at your marginal rate. If they were lasting capital gains, you could pay five 15%, put they aren't lasting capital gains. |
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Kay H.
Joined: 08 Nov 2007
Posts: 2155
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| Posted: Wed Dec 12, 2007 6:46 pm Post subject: How much should I pay Uncle Sam out of the returns on my s |
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short term trading falls under taxable earning. .. so like earning the more you make the more you pay along the same marginal rates.
ignore the man that said five 15% . that is dead wrong unless you don't make a living at it.
only if you hold a stock over one year do you get taxes at 15% or less earning bracket if lower than 15%
then as you said you get your deductions and stuff also..
here are 2007s marginal rates.
invest 2win.com/Brackets.html
cheers and good luck. tough market but lots of volatility. |
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