What Does Phantom Tax Mean on TikTok?
Phantom tax refers to a tax on income you haven't really gotten in cash. It's common with investments like mutual funds.
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Phantom tax on TikTok is like when you think you hit 'send' on a message but realize you didn't! It's a tax on income that you never actually received but still have to pay taxes on. Happens mostly with investments!
It's just another way for the taxman to keep you on your toes. Phantom tax means getting taxed on income you technically never saw. #Ouch
Ever got taxed on money you never got? That's phantom tax. Usually pops up in investment situations.
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