Paying TAX
Jun 05, 2022 at 01:25
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1 Replies
Membro Desde Jun 05, 2022
1 posts
Jun 05, 2022 at 01:25
Im very new and got my self a broker and set an account and ive done pretty good.
My problem is when i came time to withdraw some funds.. I do realize that we all have to pay TAX
But NO ONE ever said that i have to pay it before i can withdraw any funds .. I thought and would expect that i would be taxed on the amounts i withdraw at the time.
NOT having to pay for ALL the profit earned.
example ive made 4,944 in profit.. the broker want me to pay 27.5% on that amount before they release it ... which is $1,344
IS this common practice ?? Do all brokers do this ?? And if so how the hell can anyone make money if they cant get their trades out ??
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My problem is when i came time to withdraw some funds.. I do realize that we all have to pay TAX
But NO ONE ever said that i have to pay it before i can withdraw any funds .. I thought and would expect that i would be taxed on the amounts i withdraw at the time.
NOT having to pay for ALL the profit earned.
example ive made 4,944 in profit.. the broker want me to pay 27.5% on that amount before they release it ... which is $1,344
IS this common practice ?? Do all brokers do this ?? And if so how the hell can anyone make money if they cant get their trades out ??
Anexos:
Membro Desde Apr 09, 2019
538 posts
Jun 07, 2022 at 14:09
I've never heard of a legit broker charging tax on withdrawals. Withdrawal fees possibly but not calling it tax. You should withdraw a gross amount and then pay tax on your earnings each year with your respective country's tax authority.
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