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How to Save Money on Your Taxes in 2022 (Legally and Ethically)

The Table with Anthony ONeal

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Capital Gains Tax

In the short term, your capital gains are going to be taxed at your ordinary income tax rate. So ai lotit for 500 thousand, and i sold it for 600 thousand, i have to pay capital gains tax on that. In the long term, capital gains are either taxed at zero, 15 or 20 %. Even at a maximum, you're cutting your tax liability at least by 17%.

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