If I make around $3000 a week trading the stock market, how much of that will be taxed?

Question

I live in Arizona

Answer 1

If you are single....28% federal bracket is 72k to 150k. So, that is your top bracket. Obviously on the money UNDER 72k, you'll be paying a lower %% of tax.
Arizona top bracket is a hair over 5% i believe.

And re your first answerer saying 50%...we haven't had a 50% bracket for individuals since before Jimmy Carter....so, I would consider that information SLIGHTLY dated....

Answer 2

All of it will be taxed. The rate you pay will depend on how much you make through out the year. If you are really pulling down $12,000 a month, you need to see a tax professional NOW. Tax payments must be filed quarterly. If you work for an employer this is transparent since they do the filing for you.

Answer 3

Check your tax bracket. That puts you at $144,000 per year, so you fall into the $119,981-$182,800 bracket, putting you at 28%. It's not really that much. Just a little more than the upper middle class 25% bracket. You're still making a great profit.

Answer 4

50%. Therefore, you really are not doing as good as you thought. Move to Ireland, the tax would only be about 2%.

Answer 5

All of it, if you're talking federal tax. Most states follow federal. You will fill out Schedule D for your capital gains, but it appears that much of your gain may be short-term, so your capital gain benefit may be limited.

Answer 6

all of it is subject to be taxed, you need a good tax accountant to manage your books!

Answer 7

All of it,is unearned income,and they will screw you at a higher rate.You need big right offs,Mercedes,yacht,is second home.Motor home..ect.

Answer 8

depends on where u live