In the U.S., forex trading is considered a business activity that generates income. Forex traders in the United States are required to report any gains and losses and pay taxes on the gains. The Bottom Line In the United States, gains and losses from forex trading are taxed differently tha...
How Is Crypto Trading Taxed?This will depend on your time horizon (day trading or longer-term investing), trading vehicle, jurisdiction and the latest tax rules, which change quickly as governments scramble to govern digital assets.The US in 2014, for example introduced cryptocurrency trading ...
The way cryptocurrency is taxed will generally remain the same for taxpayers. However, in June 2024, the IRS released updated tax guidance for taxpayers. As of January 2025, the new rules remove the concept of universally applying basis using a first-in, first-out (FIFO) approach for all di...
The CRA considers day trading to be business income, and it’s not allowed in your TFSA. TFSA alternatives to consider RRSPs and TFSAs are government-registered accounts designed to help you save and invest. They both offer tax benefits — but the nuance of how these benefits work is what...
How much is capital gains tax in Canada? When you sell an investment, 50% of your gain is considered taxable and will be taxed at your marginal tax rate based on your income. The other half is not taxable — unless the CRA considers you a day trader or you sold a housing property th...
If you're feeling the post-holiday pinch in your wallet, here are six ways to recover from overspending.
Interest income is taxed at the same rate as ordinary income and is taxed the year you receive it (i.e. when you can withdraw it without incurring a penalty). If you earn at least $10 worth of interest in a year, you’ll have to report it on Form 1099-INT. Pros and cons of CD...
ETF liquidity comes in two levels, primary and secondary,7 and is not necessarily defined by average daily trading volume. For most investors trading hundreds of shares, secondary liquidity, or the trading of ETF shares on the exchange, is typically the focus. This is where using a limit ...
Whether you’re an occasional crypto-dabbler, an active trader, miner, or anything in between, here’s what you need to know about cryptocurrency and taxes. Key Points Different types of crypto transactions are taxed differently by the IRS. Buying and holding cryptocurrency is generally not tax...
Wealth How to invest in an S&P 500 index fund: What all investors should know Wealth What are the different types of index funds to invest in? Wealth Day trading strategies for beginners to advanced traders Wealth How to choose an index fund Search...