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Taxes are a pain no matter what subject but capital gains and taxes on stock dividends are even worse. You’ve already paid taxes on the income when you earned it, now you have to pay taxes on the investment returns as well? Bull!
Saving money on investment taxes was the most important service my team provided when I worked with private wealth management. Making those double-digit returns was great but the top 1% want to know how you’re going to save them money on taxes.
Want to know my favorite tax strategy? I get some dividends completely tax-free with this MLP strategy. Click through and I’ll show you how as well as walk you through the K1 tax form. https://youtu.be/dNX9uwkeG2c
Another must-watch video when it comes to saving money on capital gains taxes and investments, understanding how to use an IRA and a Roth is critical. https://youtu.be/Ns7_TYOibyo
I’m including a clickable index to everything we’ll cover below but please watch the whole video. Less than 15 minutes will save you thousands when it comes to filing your taxes.
I’ll first explain how investments are taxed; both investment return and dividends. This is hugely important because you can avoid some taxes by understanding how these are calculated. Capital gains are taxed at one of two rates, short-term or long-term, depending on how long you hold the stock. Dividends are also taxed at these two rates but the time period is different.
After those basics, I’ll share my favorite seven strategies to save money on investment taxes. I’ll show you how to do tax loss harvesting and how to save money on your cash flow investments. I’ll reveal my favorite trick for saving on real estate taxes and how to pay for healthcare and childcare with tax-free money.
2:05 How are Investments Taxed?
2:15 What are Capital Gains Taxes?
4:23 How are Dividends Taxed?
6:00 How is Interest Income Taxed?
8:05 What is Tax Loss Harvesting?
10:44 How to Save Money on Cash Flow Investments
12:13 How to Save Taxes on a Business
13:59 Save Money on Taxes with Real Estate
15:40 Using an IRA to Save on Investment Taxes
17:35 Tax Savings Accounts HSA and FSA
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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.
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