Categories
Resources for Accountants

What is the difference between long-term and short-term capital gains? [Video]

Long-term capital gains are taxed at 0, 15, or 20% depending on your income. Short-term capital gains, however, are taxed at your ordinary tax rate. Thus, if you’re planning to sell a stock, and you can hold on to it for at least 12 months and 1 day, your gain will be taxed at a lower rate. Now if you have a high income you might also incur a net investment income tax of 3.8% on short-term and long-term capital gains. Also, President Biden has proposed to tax long-term capital gains as ordinary income if you have taxable income above $1 million. He wants to increase the top tax bracket to 39.6%, so that means the maximum rate on long-term capital gains would be 39.6% (plus the 3.8% net investment income tax). — Edspira is the creation of Michael McLaughlin, an award-winning professor who went from teenage homelessness to a …
Watch/Read More

Most Popular Posts Today

Introduction to Walkthroughs [Video]
►
Categories
Resources for Accountants

Introduction to Walkthroughs [Video]

At the root of planning and risk assessment procedures in an audit is obtaining an understanding of the entity. And what is one of the best ways to do this? By performing a walkthrough! When planned and performed appropriately, walkthroughs provide auditors with valuable insight, which helps in assessing audit risk and designing efficient and effective audit responses.This CPE-eligible (1.0 CPE), eLearning course will define a walkthrough, discuss how to prepare a walkthrough, and cover the various items and documentation requirements to consider when performing a walkthrough. If you are an auditor who audits financial statements in accordance with Public Company Accounting Oversight Board (PCAOB) auditing standards, U.S. generally accepted auditing standards (U.S. GAAS), or International Standards of Auditing (ISAs), this course is an essential component of learning how to effectively perform a walkthrough.https://revolution.gaapdynamics.com/learn/course/external/view/elearning/689/walkthroughs-a-z

  • Tags

Most Popular This Week

From Lawyer in Bolivia to Successful US Accountant: 3 Steps to Make It Happen [Video]
►
Categories
Resources for Accountants

From Lawyer in Bolivia to Successful US Accountant: 3 Steps to Make It Happen [Video]

Ever wondered if you can switch careers and build a successful accounting career in the USA as an immigrant? 🌎 Meet Monica, a former lawyer from Bolivia who followed 3 key steps to transition into accounting in the U.S.! In this interview, we cover: ✅ The biggest challenges of switching careers as an immigrant ✅ The exact 3 steps that helped Monica become a successful accountant ✅ How YOU can start your journey—even with no U.S. experience! Join the EXACT course Monica enrolled in: https://controller-academy.com/courses/controller-academy Time Stamps: 00:00 Intro 00:47 Monica's Background 01:47 Monica's Job Responsibilities 02:56 Monica's Goal in 5 Years 04:47 Monica's Learned This From My Course 06:08 Monica's fav TV Show & Music 08:42 Monica's Journey To the US ----------------------------------- Hang Out with me on social media: 📸 https://www.instagram.com/the_financial_controller/ 📱https://www.tiktok.com/@thefinancialcontroller https://www.linkedin.com/in/bill-hanna-cpa-7653a851/ DISCLAIMER: Links included in this description might be affiliate links. If you happen to purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel so I can continue to provide you with free content each week! All views expressed on my channel are mine alone. Not intended as financial or professional advice