November 2024

I'm always amazed each tax season that people don't really know how the profits and losses from stock sales (capital gains) are taxed at the federal level, much less the state level.  Depending on your income, they can be taxed at three different rates: 0%, 15%, or 20%.

Because they don't trust United States persons resident abroad and green card holders to pay their taxes, the IRS has issued final regulations on required income tax withholding for certain types of retirement distributions. These regulations apply to distributions from deferred compensation plans (such as 401(k)s), IRAs, and commercial annuities.