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517 | Maximize Your Wealth: Understanding Capital Gains Tax Strategies | With Cody Garrett
ChooseFI
Maximize Roth Conversions Wisely
Strategically converting funds from a traditional IRA to a Roth IRA can be tax-efficient, particularly when leveraging standard deductions. A savvy approach allows for the conversion to occur without incurring federal tax, especially when gross income is structured to maximize long-term capital gains. Realizing capital gains up to a certain threshold while accounting for standard deductions can result in a favorable taxable income scenario, effectively reducing overall tax liability.
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