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Financial Planning / Tax Strategies


Subject:  Re: tax question Date:  8/17/2001  1:52 AM
Author:  acm4tax Number:  53416 of 127636

Or tell my employer about the loss so he does the necessary tax adjustments ?"

Unles your employer is also your tax advisor, he won't have a clue how to adjust your withholding.

But you could figure out the tax advantage of reporting a loss, for example, $3000 x 15% tax bracket is $450.00/ remaining number of paychecks for the year = the amount your withholding can be adjusted for the balance of the year.

If you'll be in the 27% bracket, $3k x 27% = $810. Continure as above.

Best wishes.

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