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Newbie investor wanting to stay on top of capital gains taxes?
Im a new investor, and have made a some extra cash the last few weeks. I’ve been holding the stocks for just a few weeks, and am thinking about selling them for a short-term gain. The amount that I would be paying is in the 15% tax bracket. How could I stay on top of paying these taxes to the IRS? Would it be best to pay my capital gains tax quarterly or at the end of the year?
If your total tax for the year is more than 10% higher than last year, and you owe money you haven’t been making quarterly estimates, you could get hit with interest and penalties.
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