Can you save thousands on your lifetime tax bill with a simple strategy? Discover how tax gain harvesting can sometimes outperform Roth conversions when it comes to minimizing taxes on your investments. In this episode of the Early Retirement Podcast, I'll break down the nuances between capital gains taxes and ordinary income taxes and provide a practical example involving appreciated stock. Learn how you might pay 0% in capital gains taxes by strategically selling assets, using the capital gains tax brackets and standard deduction to your advantage. We’ll also address a real-life question about capital gains on a house sale, showcasing the broader benefits of tax gain harvesting for those with significant gains in brokerage accounts.
As we wrap up, I'll encourage you to submit your own questions through earlyretirementpodcast.com for future discussions. Sharing your queries helps us provide more tailored advice to our community. Don’t forget the importance of rating, reviewing, and sharing the podcast with others who could benefit from these insights. And remember, while I offer valuable information, consulting with a tax preparer or financial advisor is crucial before making any financial decisions. Tune in and take control of your financial future!
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Ari Taublieb, CFP ®, MBA is the Chief Growth Officer of Root Financial Partners and a Fiduciary Financial Planner specializing in helping clients retire early with confidence.
