how do you do tax?

  1. 14,981 Posts.
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    Guys

    I like getting my 8k tax return each year.

    As my 1st year of trading, I am not looking forward to tax time.

    But, have only sold one stock for a profit (8 months holding), and know the capital gain will be added to my taxable income for the year, hence reducing my tax return.

    Do you guys just wear it each year, or maybe put the approx tax value of each good trade into an interest bearing account, say ING, then pay it at the end of the year?

    Is that a sensible idea, or is there a better way.

    Thoughts appreciated.
 
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