Discover and read the best of Twitter Threads about #TaxSeason

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Tax Saving tips you probably didn't know 😯

Read the 🧵to reduce your tax liability in the current year (2021-22)

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#taxes #TaxSeason #investing
1) Booking Capital gains :

The Long term capital gain on equity shares & MFs are taxed at the rate of 10%, if your gain is more than Rs. 1 lakh.

So, you can strategically plan your long term investments by booking LTCG upto 1 lakh and reinvesting the money next day.

2) Tax-loss harvesting

If any of your equity holding is experiencing a consistent fall & you feel that the security has lost most of its value & chances of a rebound are bleak, you can offset the loss against capital gains that your portfolio has earned over the period.

Read 8 tweets
🎊Welcome to EMS's regular Friday briefing. Today we're discussing what you all need to know for the upcoming 2022 #taxseason. You can also follow the conversation via FaceBook live @IRSnews
And for help filing and preparing tax returns on, visit the official IRS website.
There will be more help coming beyond what we discuss today, says #IRS Commissioner Chuck Rettig. "It is our intent that filings are as smooth and seamless as possible."
Read 27 tweets
Learning about common scams can help you combat fraud. As @USAGov said, fraudsters target consumers when they file their taxes, shop online, or talk to people on dating apps and websites. The #FBI has tips to help you protect yourself. #SlamTheScamChat
Tax Scams: Beware of fraudsters who pretend to work for the IRS. The @IRSnews won't call you to demand you pay your taxes with a prepaid debit card or wire transfer. If an IRS imposter calls you this #TaxSeason, file a report at #SlamTheScamChat @USAGov income tax, calculator, accounting
Online Shopping Scams: When you shop online, confirm whether a website is secure and reputable before providing personal and financial information. Beware of suspicious websites and advertisements that offer brand name merchandise at extremely low prices. #SlamTheScamChat @USAGov shopping, online, e-commerce
Read 4 tweets
#taxes #TaxSeason the That moment when your #Adulting reality hits in after your parents say we can’t claim you. You think of the number headache you have to have to file your taxes for the first time... but then...
They provided all the numbers to fill the forms. So you think we’ll all I have to do is input them into a computer right?! I’m a millennial!
2hrs in on typing your numbers you realize...
Read 12 tweets

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