Respuesta :
The study of economic taxation entails analyzing a plethora of laws and exceptions and, if possible, attempting to comprehend the rationale for them. However, the desired outcome of this learning process is the capacity to spot difficulties with tax implications.
Why is it critical to understand the tax implications?
It is critical to understand the data being provided. If the IRS or perhaps the state conducts an audit, the business owners who signed the tax forms may be held accountable. Asking questions and maintaining current on tax changes is the obligation of the owner, not simply the tax preparer.
What are the tax consequences of selling stock?
Profit on the sale of something like a stock is taxed at 0%, 15%, or 20% if you held those shares for more than a year, or at your regular tax rate if you owned the shares for less than a year. Furthermore, any dividends received from stock are normally taxable.
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