D
dalyr2
Guest
Hello,
I have just retired and bought 75K worth of shares in a raft of US companies listed on the NYSE through an online trading account and have some questions after the fact. (I know, not very smart).
1. What are my tax laibilities each year on the portfolio and how is it calculated, declared and paid to revenue?
2. With the markets crashing as we speak and the portfolio in the red is there any tax break/rebate incurred for losses taken during a given year?
3. I bought the shares on line with my own money being transferred from my current acc to the brokerage acc, was there a more efficient way to invest the money in the stock market since I am now retired and the primary aim was to grow the money more so for the future?
4. If I decide to transfer the portfolio to my children in the future what are the tax implications upon them and is there a way of minimising them?
tks,
I have just retired and bought 75K worth of shares in a raft of US companies listed on the NYSE through an online trading account and have some questions after the fact. (I know, not very smart).
1. What are my tax laibilities each year on the portfolio and how is it calculated, declared and paid to revenue?
2. With the markets crashing as we speak and the portfolio in the red is there any tax break/rebate incurred for losses taken during a given year?
3. I bought the shares on line with my own money being transferred from my current acc to the brokerage acc, was there a more efficient way to invest the money in the stock market since I am now retired and the primary aim was to grow the money more so for the future?
4. If I decide to transfer the portfolio to my children in the future what are the tax implications upon them and is there a way of minimising them?
tks,