Although a year away, your 2021 tax planning should have already started.
Amidst all the pandemic news and 2020 election drama, many might have missed that the IRS also quietly published new 2021 tax rates in late October and a there are plenty of changes that will impact taxpayers in 2021. While it’s more than a year away (these changes are for 2021 returns filed by taxpayers in 2022), there are a few changes that you should know about.
The National Federation of Independent Business was founded in 1943 and is the largest small business association in the U.S. The NFIB collects data from small and independent businesses and publishes their Small Business Economic Trends data on the second Tuesday of each month. The Index is a composite of 10 components based on expectations for: employment, capital outlays, inventories, the economy, sales, inventory, job openings, credit, growth and earnings.
When an investor sells a stock for more than the purchase price, the investor experiences a capital gain (it is simpler to call it a profit, but let’s stick to some technical terms for a minute). For example, if you bought Amazon at $2,000 back in July of 2019 and sold it for $3,000 in November of 2020, the capital gain would be $1,000.
