Learn how to apply business practices to personal finances.
- The end of the year can be a super busy time.…There's always a ton of things on our to-do list,…so it's really a terrible time…for the tax authorities to close their books…on our financial year right at this busy time…but that's what happens in many countries…on December 31 when the clock strikes midnight,…so make sure you have all of your bases covered.…Let's go over a couple of things…that you should look at before the year is done.…If you're an investor,…the most important tax issue you'll have to deal with…is capital gains tax.…
This is the gain you make on an investment…between the time you buy it…and the time you sell it.…The key here is selling it.…Unless you sell an investment for a gain,…there is no tax implication.…At the end of the year, it's very important…that you look at your capital gains.…If you've racked up a lot of gains,…you may want to sell off some…of those investments and pay your taxes,…thus resetting your capital gains clock to zero.…In the US, if you've held your investment…for more than a year, then the gain is taxed…
Skill Level Intermediate
Personal Finance Tips and Trickswith Jane Barratt2h 58m Appropriate for all
Financial Wellness for Couples and Familieswith Amanda Clayman1h 7m Appropriate for all
New This Week
Your Money Management
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