The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: tax question||Date: 8/17/2001 1:52 AM|
|Author: acm4tax||Number: 53416 of 122562|
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.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|