Insight Post

“I made some profit from stocks—do I need to report it?” In the U.S., stock market profits are subject to clear and structured tax rules. If you don’t understand them, you may face unexpected penalties—or worse, an IRS audit. 💡 How Are Stock Profits Taxed in the U.S.? Stock profits are generally taxed in two distinct categories : Capital Gains – When you sell a stock for profit Dividends – When you receive payouts from stocks you own Each is taxed differently based on holding period, income level, and type of distribution. Let’s break each down clearly. 📈 1. Capital Gains Tax – When You Sell a Stock ✔️ What Is It? Capital gains tax applies when you sell a stock at a higher price than you bought it. The key variable? How long you held the stock before selling. Holding Period Tax Category 2025 Tax Rate Details 1 year or less Short-Term Ordinary income rates (10%–37%) Taxed like salary/income Over 1 year Long-Term 0%, 15%, or 20% Based on taxable income level ✅ Example: Y...

Updating Your Driver’s License & Vehicle Registration After Moving in Ohio: A Complete Guide Moving to a new home is exciting, but it also comes with important legal responsibilities. If you’ve changed your address in Ohio, you  must update your driver’s license and vehicle registration within 30 days . This guide will walk you through Ohio BMV’s (Bureau of Motor Vehicles) requirements and step-by-step instructions for changing your address. 📌 What You Must Do After Changing Your Address in Ohio Ohio law requires residents to  update their driver’s license and vehicle registration within 30 days of moving . Failing to do so may result in  fines of $150 or more  and could cause you to miss important mail (tax notices, legal documents, etc.). ✅ What Needs to Be Updated Driver’s License or Ohio ID Card Vehicle Registration Car Insurance Information  (must notify your insurer separately) 🚗 How to Change Your Driver’s License Address in Ohio 1. Online (If Eligi...