For more information, check out our helpful website: clearvaluefinance.com/
@MRDEWVOLTAGE Жыл бұрын
the websites gone my g
@ShadowMewtwo23 жыл бұрын
You won me over with that "with great power, comes great responsibility" bit, bravo
@theluckycharms815922 жыл бұрын
I was about to come here and comment this lol subscribed
@BleuSkiddew2 жыл бұрын
I love the clock in the background. You can see how long it takes between cuts! Thanks for your expertise.
@jonahansen9 ай бұрын
Very well done. Covered all the important aspects...
@AnonMav2 жыл бұрын
You explained so much information that I was not aware of and I’m grateful to have stumbled upon these tax videos.
@chrisdude26752 жыл бұрын
This saved me, I had a big 20k loss on a penny stock and I badly needed a tax right off since I exempted myself for 2 months in taxes.
@mattchristoff67094 жыл бұрын
I have seen elsewhere that you can tax loss harvest at any point in time and accumulate those losses to use in future tax years. Also, that if you don't have any capital gains to offset in that year, you can use up to $3,000 in losses to reduce your taxable income, which I did not hear you mention. Is this information true? Thanks! Love the videos.
@quantumynd2 жыл бұрын
Thank you for the clear and concise wisdom you share. I can’t express how much I appreciate the generous service you provide🙏 You’re the man!!!
@geneduclos4003 Жыл бұрын
Been bing watching your recent and prior videos this morning. Gotta say, I love your candor and sincerity you project in your videos. Definitely educating me to be a better trader. Thank you. Hope "likes" on older videos benefit your KZfaq site.
@mbplayz23823 жыл бұрын
Curious if tax loss harvesting applies to options too? I’ve had a really great year trading options and stocks. I’ve also been crushed on some option trades. Thanks for any insight you can provide me. Excellent videos
@Phillipelewis Жыл бұрын
Sorry I know your comment was a year ago. Did you ever find out ? I’m you a year ago lol. Hoping you see this. 🙏
@jamesadamgleason947111 ай бұрын
Gains are gains. Losses are losses... if they're realized you best realize the IRS knows
@diegocelaya73023 жыл бұрын
Bro! The Superman to Spidey to Uncle Ben to Voltaire was SICK! I didnt even know the voltaire.
@diegocelaya73023 жыл бұрын
Although I'm not finding a source to say it was Voltaire. Just that it was from 1790s or so. (Wikipedia, not the best source).
@desolator1084 жыл бұрын
thanks so much about the wash-loss rule. Saved me head ache
@chrismadsen66438 ай бұрын
Love the Voltaire quote, you are an excellant teacher, thank you.
@garrettculp8943 Жыл бұрын
This guy is a beast. Keep up the great videos!!
@trendyasdabbers Жыл бұрын
Thank you this was so helpful! I will share it with my podcast audience.
@FutureLaugh4 жыл бұрын
Thank you so much for spreading your expertise with the world, i can tell you genuinely care about your profession. i share your vids with all my friends
@StanwoodSpartans Жыл бұрын
Does this apply to cryptocurrency???
@kdefensemartialarts80972 жыл бұрын
Thank you for your videos.
@NabilTX2 жыл бұрын
Very good presentation. If you reduce the huffing and puffing it would be perfect!
@OhYeaTheBest Жыл бұрын
Love this old you, and rhe new you
@jamiechang15614 жыл бұрын
Thank you for simplifying what the wash loss rule is.
@janetbashus97503 жыл бұрын
You still have an attitude.
@Nasirakbarishegoat2 жыл бұрын
Thank you Brian i lost 20k in stock last year and i have like 150k in wash sell do i need to pay tax on my wash sell or loss?
@gnosticone4 жыл бұрын
Can you make a video addressing how active traders filing a schedule C can use losses to write down their wage earnings?
@clearvaluetax93824 жыл бұрын
Hi Thegnosticone, I don't think I can. Not enough traders out there. You just claim your expenses on Schedule C and claim your income on the Schedule D or Form 6781. It'll look weird (big loss on Sch C) but it'll be pretty straight-forward. Let me know if you have questions. If you do, I don't see "replies", I only get alerted for the new comments. Stay safe and healthy!
@Saladon892 жыл бұрын
Ive lost about $60k in trading stocks and I left the stock market completely. So you are saying that i can get an additional $3000 in tax deduction to whatever return I get for the year, every year until it adds up to the $60k?
@ZoneE3 Жыл бұрын
I don't think so
@TheMonkeyally4 жыл бұрын
good video on tax loss harvestng; for wash loss rule, TD Ameritrade incorporates the loss into the next trade; question: I receive a K1 statement for a stock in my IRA account. Is that a mistake? I already tossed it.
@ph1ogic4 жыл бұрын
thanks for sharing was gonna recommend pixel and my digital marketing services but it looks like you got that covered cheers
@user-we2rt7ni5d4 жыл бұрын
You can only claim loss up to $3000 a year for stock loss, is there a way to get around this?
@clearvaluetax93824 жыл бұрын
Only if you claim mark to market Jing Sheng
@andylise083 жыл бұрын
I’d like to understand as well.
@drewtalks4 жыл бұрын
Great video 👍
@clearvaluetax93824 жыл бұрын
Thank you Drewtalks! I appreciate it!
@CorpCoreyy2 жыл бұрын
I lost 30k aka almost every dollar I have. I’m really worried about my taxes cuz I transferred that 30k back & forth to three different brokers
@47shadows762 жыл бұрын
You earned a sub for the Superman Reference!!
@tosborn564 жыл бұрын
Since I'm not a tax accountant (good or bad), could you please elaborate on the $40,000:$80,000 income limitation versus the $52,000:$104,000 income limitation for zero percent long-term capital gains tax. Thanks.
@StanwoodSpartans Жыл бұрын
Single vs married
@Erk08064 жыл бұрын
Can you do this with crypto or is it only for securities ?
@dpalaoro3 ай бұрын
😂 dude you're honestly very funny. 👍
@evilmonkeyFG3 жыл бұрын
Your videos are great thanks so much for sharing the knowledge! Can you shed some light on this following scenario (assuming all these are short term capital gains)? Say I make a trade for $100 profit and then reinvest all $100 of that profit into another stock without paying the taxes on that initial $100. Then I make a second trade for another $100 profit. Then lastly reinvest all $200 of those two combined realized gains, but unfortunately lose $50 in that trade. At the end of the year would I just owe taxes on $150? Essentially, risk management aside, do I have to pay taxes on each individual trade or can I wait until near the end of the year and just pay taxes on my total net gains?
@emmanuelcruz65094 жыл бұрын
Is the income of 52K or less for the 0% capital gains gross income or taxable income ? Also, if one makes 52k or less, do you still have to report the capital gains even if its non-taxable?
@geraldfoushee2 жыл бұрын
Brian ..can you say more about if you're single or married and earn under 52 or 104,000 combined? I have 5+ stocks I would like to sell but was afraid to sell because 1i didn't know how to report on my taxes and 2 I didn't pay too much for them so I was just sorta holding them...but it would be better to be able to invest that money into another stock... I have been getting more people to invest...and sharing the channel
@yahelluna38424 жыл бұрын
Can I hire you as my accountant even though you're in a different state?
@clearvaluetax93824 жыл бұрын
Hi Yahel, yes, you can visit us at cvtaxpreparation.com Thanks for your support Yahel!
@eclipsegsx964 жыл бұрын
Yahel Luna I hired them and they did a good job.
@yahelluna38424 жыл бұрын
@@eclipsegsx96 glad to hear, it makes me feel more at ease knowing that someone else had a good experience with them.
@alexanderup60952 жыл бұрын
Hello, At which point the disallowed loss can be realized ? As I understand even though I bought replacement shares and also sold them for a loss before the end of the year should the disallowed loss now be realized ?
@StanleeSon_3 жыл бұрын
How will the tax lost harvesting work if you don't recognize a positive stock until years later? Will it just apply years later if you actually sell a positive gain stock? For example, say you sold a negative stock in 2020 but sell a positive stock in 2030? Does the tax lost harvesting get applied in 2030?
@1pyroace14 жыл бұрын
My BIGGEST question that I’m now I’m confuse I don’t pay taxes on stocks I don’t sell but I still have to pay dividends even though I never withdraw ? It stays in my brokerage acc to reinvest
@clearvaluetax93824 жыл бұрын
Hi 1pyroace1, you can think of it like this... for your stocks that have unrealized gains... you didn't sell the position so you didn't "receive" the gain. For the dividend, you received it. It was your choice to reinvest it.
@marcelly54254 жыл бұрын
My husband has a bunch of RSU, he had no idea the tax on it was done when was open for him to take out, yesterday he opened hes w2, to see if we get quality for the incentive cheques, because we clear did not have 150,000 in our account, so we found out he got a bigg big payment that was never in his account, only when I came in try to find out where was all his money, to our surprise was being taxed in his rsu, now we dont know what to do, and not understand why they took money then and now in w2. The stock now is pretty low, so this money on the rsu tax is forever gone? I feel he lost all his savings on does shares and pay money in taxes before lose it. Any help in this?
@arseniowilliams46932 жыл бұрын
Do I have to sale the entire stock I sold for a $4000 loose but still have $3000 in the stock?
@SleepyMagii2 жыл бұрын
Ahahahaa! You are THEE Man! Thank you for your priceless services and expertise!! 👾
@irasemoomoo1352 жыл бұрын
You’ve really been saving me, I like you haha
@joellanglois5144 жыл бұрын
Thanks
@josuerodriguez-sw7xf Жыл бұрын
Hi How does rules aply when you do swuap one for onother one and how aply in cripto whe make a profit and you decide to shuap for an stable coin
@Je.rone_4 жыл бұрын
*I want to harvest someone undervalued securities as the market goes ⬇️*
@clearvaluetax93824 жыл бұрын
I think we'll tank further...
@Je.rone_4 жыл бұрын
@@clearvaluetax9382 I'd bet we'd tank a lot further
@PedroOjeda4 жыл бұрын
Does this also reduce tax from income? Or only within the same stock account
@noahpalmieri9412 жыл бұрын
Is there any duration you have to hold a stock for or can you buy it, sell it for a loss a week later, and count that as a loss?
@kristinahill26412 жыл бұрын
You are so funny. I really enjoyed this video
@shariffrotan89732 жыл бұрын
Hi , i have two questions pl , one if i buy a stock today sale tomorrow at loss can i claim the loss? Second question. If sell stock for loss and buy an other stock tomorrow is it wash sale ?? Thanks
@aaronlee9416 Жыл бұрын
Is there a way to recoup realized losses in a ROTH IRA account?
@ThinkMoneyBenny4 жыл бұрын
Prediction: there will be a lot of tax loss harvesting in 2020
@clearvaluetax93824 жыл бұрын
I think you're going to be correct Think Money.
@xuweiweiweiweixu4 жыл бұрын
Not necessary, market rebounces quick
@janetbashus97503 жыл бұрын
You seem like your talking down to us You keep on breathing as if your tired of talking to us.
@vasilestana97542 жыл бұрын
In 2021 I made 30k from short term stock trading. Bot in 2017 I lost 40k doing trading as well. Can I use the 40k loss from that year to offset the winning from 2021? Would that be like tax harvesting? Thank You
@Yemeno45 Жыл бұрын
I have a loss of 2.5k I don't have any other investments, can I still get a tax deduction? How would I go about doing that?
@Je.rone_4 жыл бұрын
I might nor be a good tax accountant😅 would like to know why you were saying 52,000 not 40000, i was wondering that but after giving it some thought i think i know, but I'd still like to know👌😁
@UnknownUnknown-tu3be4 жыл бұрын
Standard deduction
@clearvaluetax93824 жыл бұрын
Yeah, the common person doesn't really know what "taxable income" signifies. It's easier for people to understand "if you make less than $52,000". Moneyology!! What's new? I'm still working on a Sunday!
@Je.rone_4 жыл бұрын
Makes sense!!!!!😁👌
@Simplifyyourwealth3 жыл бұрын
Can you create another Brokerage account? and repurchase it there?
@bje08emoney4 жыл бұрын
what about futures trading? USOIl, XAUUSD, Forex etc..
@HailCeesar2 жыл бұрын
Does the wash rule apply to cross-account sales? Had a stock I had to close after a year in my taxable account. I would claim my $3K loss on my 2022 taxes. Not thinking about the wash sale, I was trading in and out of the same stock in my IRA. Just wondering if I can claim it or if I should day trade it again to try to regain some of my losses back. Thanks for your reply in advance.
@louisgholston2116 Жыл бұрын
can i harvest stock market losses against investment property gains?
@ericelibeats12833 жыл бұрын
Good info 💯
@ivanrazo89432 жыл бұрын
haven’t bought a stock in a year however I left drip (dividend reinvestment plan) on the Stock to reinvest, since I didn’t stop the drip does that mean that stock still short term gain or loss if I was to sell it?
@Advurts3 жыл бұрын
So, losses on options contracts will apply, however does the wash-loss apply if you repurchase the same contract? or just _A_ contract under the same ticket ?
@Snappynappybullpen2 жыл бұрын
My brokerage account was already at a net loss ytd. Yesterday I took a massive loss via options and went to near zero. Since my gains were already offset will I retain any benefit from the loss? Aside from a terrible lesson of course🤦♂️
@captainobvious599310 ай бұрын
How can I write off more than 3000 in capital losses? I lost 160k in the market this year.
@chavonazary2642 жыл бұрын
Can you claim unrealized loses from at least 2 years ago?
@winnielygamer3 жыл бұрын
Can you offset tax on stock gains with your losses from stock options?
@jonahansen9 ай бұрын
Sure - they are all capital gains/losses.
@friedice454 жыл бұрын
You’re literally my new fave KZfaq channel 😍😍😍 hot accountant spitting hot tax wisdom yes pls
@0351USMC19752 жыл бұрын
My question ❓ let's said I lost $30k and quit trading. I can claim $3k for next 10yr?
@comfortablynumbBG4 жыл бұрын
What about international stocks sales where they don't provide you with a 1099-B Form? I recently sold some international (employee) stock at a loss (wanted out) and I have no idea how to report that loss in next year's taxes (use Turbo Tax).
@clearvaluetax93824 жыл бұрын
You'll report it on the Schedule D as a "non-covered security" not reported on the 1099-B.
@juliosoto22164 жыл бұрын
first
@clearvaluetax93824 жыл бұрын
Nice Julio Soto!!!
@jacdragan89184 жыл бұрын
I didn't work in 2019, but my wife did. We file "Married Filing Joint". I have cash and would like to put as much into my IRA as possible both for 2019 and 2020. Can I dump the limit into mine for the both of us? I.E. $14k for 2019 and $14k for 2020? Thank you.
@mariaalexander4274 жыл бұрын
You rock Parce! Keep up the great content!🤗
@strokerace47652 жыл бұрын
If I make $100,000 in income and have $20,000 in losses will my AGI be $80,000?
@clearvaluetax93822 жыл бұрын
Depends on the type of losses. If they’re active losses then yes. Passive losses would be no. Capital losses then you can only deduct $3,000.
@strokerace47652 жыл бұрын
I just got on cashapp and have “gambling money” I have real solid mutual funds etc, but wanted to play a little
@notjj_95323 жыл бұрын
What about loosing money on stock options ? Does it still apply or no
@clearvaluetax93823 жыл бұрын
Yes that applies too👍🏻
@notjj_95323 жыл бұрын
@@clearvaluetax9382 Thank you so much for being responsive
@dantelinden9863 жыл бұрын
@@clearvaluetax9382 does the wash rule still apply to options?
@gilbertoborrero20143 жыл бұрын
LOL. "With great power come great responsibility."
@Fat_Buddha2 жыл бұрын
Does this include Crypto?
@whynotanything Жыл бұрын
@2:46 "tesla is going up and up" hahaha oh how the times have changed
@DanielGomez-fu9nm3 жыл бұрын
What if your doing options
@Happyliving7572 жыл бұрын
Hi im a stay at home mom with 2 young kids. I recently opened up a vanguard account under my name for them and very mew to this whole thing. I am also hearing about the rollover 401k from my old employer to the roth ira! Do you think its a good idea to do the rollover to roth ira even when i dont have a job and not sure when ill be going back. Id appreciate your thoughts in this 🙏
@nunyabusiness8254 Жыл бұрын
Charles Schwab intelligent portfolios have no management fees they make the money off the cash balance. They are Robo advisers. You simply give it the money and it does all the thinking for you. You could do a Roth IRA or a regular brokerage account that’s taxable. Trying to invest yourself as foolish. We aren’t professionals.
@santoshr42123 жыл бұрын
How many are watching this video after investing in pfizer?
@joekim4794 Жыл бұрын
Should you use tax loss harvestng if you only have one stock you are down on and you are not planning on selling off your other stocks yet?
@GRASSWITHERS Жыл бұрын
Good question! I second that.
@lynju_2 жыл бұрын
I didn’t know tax loss harvesting only works if you lose more than you gain . So the net
@Trapshack2 жыл бұрын
THINK OF IT THIS WAY! (AND THIS IS TRUE) if you win BIG on a scratch off lottery ticket, you can also turn in all of your losing tickets for a reduction of the taxes taken out of the BIG WIN.
@toxikblackrain78552 жыл бұрын
Ohhhh I screwed up and rebought before the 30 days was up.
@YADANIO3 жыл бұрын
Can I claim my loss on tax
@MRDEWVOLTAGE Жыл бұрын
Damn, so you can only take the deduction off of a capital gain tax... that's unfortunate... makes sense though
@juniorkhan6504 жыл бұрын
Good stuff like always
@dannyc29954 жыл бұрын
Could you also donate to charity to reduce some of your short-term capital gains before the end of the tax year on your schedule-A if you don’t want to sell your losers? Love the content btw?
@danbrow24804 жыл бұрын
This video didn't age well 0-27 seconds. Sir you stated no affilate marketing or promo code. " that crap". Well may 20, 2020 Wednesday. WeBull..Travala. Example Sir.
@nakho3550 Жыл бұрын
Now he's tax loss harvesting Telsa in 2023.
@williamslandamorales4 жыл бұрын
Normally i fall asleep when taxes are brought up . But you, can keep this shit interesting you got good stuff man. you keep making more videos and ill keep raping that like button lol peace out...
@odomisan3 жыл бұрын
You fall asleep because you haven't realized that there's a thief lurking always ready to steal your money.
@MRDEWVOLTAGE Жыл бұрын
no point in selling a loss if I haven't sold a gain then
@MRDEWVOLTAGE Жыл бұрын
wish it applied to federal tax
@johnlangeveld339210 ай бұрын
$3000 is too low. needs to be substantially increased. The $3000 amount was set clear back in 1978.
@emiliosandoval72874 жыл бұрын
I wish this guy was my dad 💸💸💸
@tgabriel5285 Жыл бұрын
2 yrs later … I have lost way too much on Tesla stock … Purchased it @ $283. It is now $216.50. I feel like I’m on the Titanic
@dipsetdagod91724 ай бұрын
It’s over 600 now the titanic sank but u made it out😁
@ricseeds48353 жыл бұрын
It took an hour to film this. Damn!
@jesushernandez-eo8fq2 жыл бұрын
I heard it from peter parker's uncle
@jesushernandez-eo8fq2 жыл бұрын
@@JuancoPRoFlow i spoke to soon 😆
@FF-xl7yw2 жыл бұрын
Felt like you steered away from the topic of the video