Maximizing Wealth Through Strategic Financial Planning

In episode 161 of Financially Simple, Justin looks at ways to reduce or even avoid paying Capital Gains Tax.

Capital Gains Tax is an Income Tax that is applied to any money you make from the sale of an Asset. Justin looks at several methods of minimizing or even eliminating the amount you could be liable for.

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TRANSCRIPT/BLOG: BLOG: Minimize Capital Gains Taxes to Get a 0% Rate

TIME INDEX:

01:06 - How to Pay 0 Taxes on Capital Gains Tax

01:21 - What is a Capital Gain?

01:44 - Short-Term Gains & Long-Term Gain

03:05 - The Magic Number

04:50 - Hold On

06:13 - Exclude Home Sales

07:45 - Rebalance With Dividends

09:19 - Use Tax-Advantaged Accounts

10:04 - Tax Loss Harvesting

11:59 - Carry Losses Over

14:30 - Wrap Up

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Ep. 59: Taxes - Creative Planning & Reduction Ideas, with Chris Mahan

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BIO:

Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute’s Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast’s guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast’s hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

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