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517 | Maximize Your Wealth: Understanding Capital Gains Tax Strategies | With Cody Garrett
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Ok - Maximize your tax savings by understanding capital gains limits
Understanding capital gains limits is crucial for tax savings. If your ordinary taxable income, combined with long-term capital gains, remains below $94,050, the long-term capital gains tax rate is effectively zero. For example, if your ordinary taxable income is $70,800, you can realize an additional $23,250 in long-term capital gains without incurring any tax. This creates a significant opportunity for tax efficiency that can easily be overlooked if one is unaware of these thresholds. Taking full advantage of these limits can lead to substantial tax savings.
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