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Gold/Mining/Energy : T.ITE: iTech Capital (TSE) -- Ignore unavailable to you. Want to Upgrade?

To: md1derful who wrote (1835)	11/13/1999 1:59:00 PM
From: keith massey	Respond to of 5053

Guess I wasn't clear enough <ggg> We don't pay a flat rate like the good old U.S. The gains are added on to our income so it could bump us up into a higher tax bracket depending on how much we make. If I didn't have any income and made $100,000 profit I would get taxed on $75,000 if I wasn't declaring myself a professional trader. On $75,000 income I would end up pay ~30% in taxes after the normal standard deductions or ~$20,000 (or around 20% of the total profits). However if I only made $10,000 and didn't have any income I would have enough standard deductions to not pay any tax on that money. Of course if I only made $10,000 I would probably also be living in a box and would have my computers to make the $10,000 in stock gains in the first place but that is a different story. Best Regards KEITH