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What an upset
Thanks for sharing, I only know about US TAX LAW, and I know it well. Looks like USA citizens that have low income get a real break here. 0% LONG TERM CAPITAL GAIN TAX RATE if you are a SINGLE FILER and earn less than $41,675.00 in 2022, and $83,350.00 or less if you are married and a JOINT FILER.
So on one side, Canadians get to load up on $GVSI CHEAP but pay more tax, USA citizens had to buy over a year ago and wait to get the tax break, if they have low income.
It’s times like this that I wish that I had dual citizenship!! LOL!!!
If I were you, I’d be LOADING UP THE BOAT of $GVSI!!! And pay the tax!!! LOL!!
Its different for us Canadians -
"Contrary to popular belief, capital gains are not taxed at a set rate of 50%, nor are they taxed in their entirety at your marginal tax rate. Rather, only half (50%) of the capital gain on any given sale is taxed at your marginal tax rate (which varies by province)."
https://www.moneysense.ca/save/taxes/capital-gains-tax-explained/
Send this to your accountant, I already checked with mine.
https://www.kiplinger.com/taxes/capital-gains-tax/602224/capital-gains-tax-rates
See what he says. Tell him what your earned income will be for 2022 and if you’re single, or tell him you and your spouses annual earned income if you file jointly, AFTER DEDUCTIONS.
Don’t wait until tax time, do it now and make a plan. Knowing the answer today will help you with your future trading practices.
Don’t wait!! Call today!!
Like I said, I checked with my accountant and he’s a great one. He said I still have to report it, but I WILL NOT HAVE TO PAY ANY TAX because I file SINGLE and my annual EARNED INCOME, after deductions, is LESS THAN $41,675.00.
I guess one of us is going to be very surprised at tax time. I hope its me and not you then. Good luck.
I already have. Confirmed. If I make less than $41,675.00 in earned income, AFTER DEDUCTIONS, I fall into the 0% Long Term Capital Gain Tax bracket.
“If you have a long-term capital gain – meaning you held the asset for more than a year – you'll owe either 0 percent, 15 percent or 20 percent in the 2022 or 2023 tax year”.
Do you see that?
There are 3 different long term capital gain tax brackets, 0%, 15% and 20%.
Which one you’re in depends on your INCOME, NOT INCLUDING money made by trading stocks. EARNED INCOME.
Please read. And google it. Every GOOGLE ANSWER SAYS THE SAME TIME.
“The capital gains tax rate that applies to profits from the sale of stocks, mutual funds or other capital assets held for more than one year (i.e., for long-term capital gains) is either 0%, 15% or 20%. However, which one of those long-term capital gains rates applies to you DEPENDS ON YOUR TAXABLE INCOME. The higher your income, the higher the rate”.
https://www.kiplinger.com/taxes/capital-gains-tax/602224/capital-gains-tax-rates
Thanks.
I don’t know how many times I have to explain this, GOOGLE IT, go to the IRS WEBSITE, I am in the 0% LONG TERM CAPITAL GAIN TAX BRACKET because I have earned income of less than $41,675.00.
It doesn’t get any easier to understand. You are either in the 0%, 15% or 20% LTCG TAX Bracket DEPENDING ON YOUR ANNUAL EARNED INCOME.
Short Term Capital Gains tax is “taxed as ordinary income tax rates”, BUT IS NOT, and I repeat, is not considered part of YOUR EARNED INCOME.
Earned income comes from your job and taxable dividends and interest.
Keep reading, you’ll eventually get it.
Well, because I not familiar with Canadian tax rates and if you are in the U.S. then you might want to confirm your long term capitol gains taxes with an accountant.
Why would you say that?
It certainly could! Proudly holding my little 1M share stash
GO GEORGE!!!!!!!!
GVSI $$$$$$$
Exciting days ahead!!!!
GO GEORGE!!!!!!!!
GVSI $$$$$$$
It takes as long as it takes! This week, next week, next Month? Who the “F” knows!
GO GVSI$$$$$$$
Why do you ask?
As far as I know, no one in the USA CAN BUY SHARES OF GVSI until it goes PINK.
If you’re a Canadian citizen, you can buy if you are on Canadian soil, sitting in a chair, on a computer, that is inside the Canadian border.
I have a friend in The Netherlands that tried to buy in his country. No luck. Maybe there are other countries where you can buy, but I don’t know of any.
What country are you in if you don’t mind me asking?
I cannot buy shares now of $GVSI, so you know I’m not in Canada. I bought my shares before it went EXPERT MARKET, if that helps answer your question.
If you can’t get any shares of $GVSI, try SRNW, FORW, WNFT and CSUI.
The week is not over yet I’m still confident;)
I am watching v...
Let's see how it "can't break .015" when everyone can buy. Whew, so glad I didn't sell for under a penny.
Agreed, people thinking it would go PC, go to $1, merge etc have been absolutely wrong. This EM filth can’t even break .015!
Everyone that owned Tess-oro for the big run from .01 to $1.93 either currently owns $GVSI or will buy when PINK.
Everyone that is still kicking themselves for NOT buying Tess-oro in November of 2019, will all be buying GVSI as this is their second chance for an EPIC RUN!!
Everyone that made money on Sharp’s last reverse merger has friends that wish an opportunity like that would come around again for them. Well, they are about to get their wish!!! Do you think they are going to miss it a second time? Not a chance!!
That’s a lot of people. That’s 1000’s of people, maybe over 10,000 people!!
GVSI is about to be the most talked about stock in the OTC. It’s going to be WILD once PINK!!
And I’m in!!!
Yes, terrible company and ticker and nothing but fails here, PPS going no where but I am holding shares.
What a hoot!!
Folks continue to accumulate shares. Nothing looking grim about the next leg up when we are Pink. Huge upside coming.
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2,053,613,827 shares accumulated now, as another 12,504,560 Million shares shift into stronger hands.
Glad I can buy at these levels.
Updates coming.
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$WNFT $SRNW
https://twitter.com/NormallMr/status/1599057979046735872?s=20&t=oEepVfgeX9qOVJkw0__VyQ
Yup! The longs are trapped here. It does suck!! But if there is a possibility that this gets current, then it is far better to hold than to sell. The risk is worth it. But for heaven's sake, let's get this thing going now. The delay after delay is just unacceptable.
Exactly. This has been a dumpster fire stock with George producing many FAILS along the way.
If, and I mean IF this ticker ever gets to PC, then I will start to feel like there is a future here.
Otherwise, it's been looking pretty grim.
I specifically remember Sharp saying that the financials were sent in “IN CONJUNCTION” with the OTC APPLICATION.
I don’t think he needs to upload any financials, they are already in the hands of the OTC.
Yes?
I agree! Claims of Sharp's TSNP getting SEC halted started 2 Novembers ago!
I agree! Claims of PC soon started last November!
People here who have been so wrong on their predictions, for over a year, continue to do the same thing, day after day after day. Amazing.
No, there have been tons of EM to Yield, then to Pinks since. I believe this may be a VERY new development with the OTC.
Once access is granted and financials are approved and uploaded, instant Pink.
It wouldn't have passed custo term. like it has if that were the case. But not surprised you don't know that.
Confident I didn't make a mistake holding my shares and dwelling on it daily if I did.
Confident GVSI has too many skeletons and the OTC won’t approve it.
Maybe that’s part of the new SEC RULES as of September 28th, 2021.
You’re confused here.
“So Keith, long-term capital gains are considered taxable income as we all know”.
Long term capital gains are NOT CONSIDERED INCOME. They are TAXED at ordinary income tax bracket levels.
There is a difference.
No, that’s not the way it works. Let me keep it simple. If you are single and have a job and you earn $35,000.00 a year in earned income. That’s under the threshold of what I posted. That means you fall into the 0% LONG TEM CAPITAL GAIN TAX BRACKET. So even go you make $1.0 million in long term capital gains, you pay NO TAX.
If you earn income less that $41,675.00 a year, you are in the 0% Long Term Capital gain tax bracket, That DOES NOT INCLUDE MONEY YOU MADE TRADING!!
Read the article I posted. That explains it.
https://www.cnbc.com/amp/2022/02/08/heres-how-much-you-can-make-and-still-pay-0percent-in-capital-gains-taxes.html
Your long term capital gain tax rate is based on how much money you earn, not on how much money you earn in stock transactions. Only your earned income after deductions.
You may qualify for the 0% long-term capital gains rate for 2021 with taxable income of $40,400 or less for single filers and $80,800 or less for married couples filing jointly.
You calculate taxable income by subtracting the greater of the standard or itemized deductions from your adjusted gross income.
Do not figure the money you make in the stock market as earned income. That’s capital gain, either short term capital gain or long term capital gain. It’s not income.
with all respect to all the long holders including myself, gvsi sucks but i have shares.
Another well written post
Gawd, you write great posts, Keith. You are always our voice of reason, perseverance and patience! So proud to be on these journeys with you bud! Keep up the awesome work!
GVSI $$$$$$$
PB
Lots of Expert Market tickers going straight to Pink after access and uploads, no Yield anymore it seems.
I'd hate to get caught out if that were to happen here. LOL
I think the only abandoned ship would be if I sold for under a penny and have to watch this go to $0.10+ near term. Thank god I didn't walk the plank
That it had to be done sooner or later why not sooner as he waits for whatever he might be waiting for?
Anyhow, I keep thinking that if GS had bad news for us he would have told us already. (Although if he had GOOD news he probably would have told us already also.) I just can't figure out his silence unless he is still waiting on the OTCM.
$GVSI-PINK CURRENT SOON??
It does not bode well, you think George will wait until after the holidays to tweet he’s abandoned ship?
I thought the ticker was abandoned? How does a ticker even get pink current when it was supposedly abandoned? What happened to the abandonment?
Saying a Sharp ticker (one he doesn't even own lmfao) can't go expert market because of a court case is very strange.
B I N G O!! That will bring deflection as we both know what that means
I'm talking about getting pink current. Talking about a merger is premature.
So what are you suggesting that he did that to not bring in a merger? Lmao
Terminating custodianship while in expert market is very strange.
Correct me if I'm wrong, but two years is two years and previous management would be out of the picture in two years and their "past corporate mismanagement of records/actions."
Good Vibrations Shoes OTC:GVSI
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