Want to sell stocks and pay zero capital gains tax? Learn how to legally avoid taxes on Long-Term Capital Gains through Capital Gains Harvesting. Discover how to increase your cost basis and strategically use capital gains harvesting to avoid paying taxes. This video will show you smart investing moves that can save you big come tax time!
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Disclaimer: I am not a financial advisor. This video, and the ideas presented in it, are for educational and entertainment purposes only and should not be construed as financial or legal advice. It is imperative that you conduct your own research and, if needed, get professional advice suited to your unique circumstances. I am merely sharing my passion for personal finance, stock market investing, other types of investing, and overall money management to help people achieve their financial goals. This video is purely for entertainment purposes.
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@MikesFinancialEdge
Hey everyone, have any of you done any capital gains harvesting? Or possibly capital loss harvesting? I would love to hear your thoughts. Thanks for stopping by.
@DaveGillett-q1u
I don't know why my tax guy doesn't inform me of stuff like this. I could have been doing this over the years. I learn so much from this channel! Thank you
@virajfaria3832
I love how you explained this strategy so clearly!
@virajfaria3832
Anybody wanna guess why you wouldn’t want to use this strategy with your Roth IRA? But instead with the personal brokerage.
@hortensiasoto4389
What about for a non-married person? I always learn something.
@Fj8282haha
Go Mike… that’s what filthy dirty rich people do everyday
@jimburdin
yeah, so you can kiss that all goodbye if Harris is elected, as she wants to tax UNREALIZED capitol gains… smh
@denism8494
leeches on society.
@saltgunz_0064
gotta have the money to spare to invest first.
@jasonbartelds8438
Good advice
@iamsaffrontiger
You conveniently forgot the other income of married couple (from their respective jobs) that will definitely throw them over the 94K range, my friend.
@Unplugged704
2024 cap gains tax rate is 0 and threshold is $89,250; and 15% and $89,250 – $553,850, for married/joints.
Don’t see where you got $94K?
@Unplugged704
Along this same lines… for example. If I have $1 million in a taxable brokerage and I quit my job (0 wage income).
I sell $118,000 of stock. Minus standard deduction of $29,000, leave me $89,000 of taxable income.
For tax purpose (married joint) do I pay 0-zero capital gains tax (<$94,050)
but must pay marginal tax of 12% on thr $89K (<$94,300)
Is this accurate?
@Ldkdnncuaqw
I still don't understand this. Can I read more about this somewhere else or can you explain this a bit more for a single filer?
@playa111ism
I hope to have capital gains next year.
Thank you for the valuable info. It is the carrot dangling out there. I am sure a lot of CP A's don't know this.
@jackychi8787
Thank you for sharing this helpful information! To be more accurate, the capital gain that enjoys 0% tax you mentioned in the beginning is only long-term capital gain, right? Also it is a little bit confusing that you mentioned "we'll sell $46,000 worth of stock" in the beginning, but "we sell $46,000 worth of stock that doubled" later in the vedio.
@abrowncitizen
Something unclear. If you get income just below the limit at $94,049, then any long term capital gains over $1 will be taxes at 15%?
@LoVeOvErHaTe5
The wig took me out but great advice 😂
@NganLe-tb8bt
I'm still not understanding 😢 and someone says it's clear.
@papabear4066
So if I make much more than that, I can’t do the long term gain tax harvesting, as I understood from your video.
@antoniorodriguez8632
Can someone tell me this in Caveman terms please
@Kerchunk
Trump will take any gains so forget about it.
Greedy fat gullible stupid yet opinionated Americans voted for a psychopath and his personal felcher.
Now you are losers worldwide.
@Auntie_Fran
hi 👋🏼 whats the single limit? thanks
@lanal.4093
This information is gold. I did not know that long term capital gains harvesting exists.
@lmiii85
This is only if retired already?
@j.p.2393
Good plan if you want to live with $94k a year married that’s not allot. I’m looking at 130k single if we Mary we’ll be over $200k ..
@simsonsguy96
Does this apply to crypto as well?
@jmm1817
Wow thank you sir I had no idea how this all worked now I do
@tazz7830
Is this advice for US or Canadian citizens?
@bedirhan_m25
Forget about it. Tell us how to structure an offshore system and actually pay nothing 🙂
@SAR_Balboa69577
Can someone explain in fortnite terms
@joshuamerritt8897
Too bad I’m not married
@ElTeemo-z4c
Im down this year about 6k in crypto, ive heard that you can deduct 3k for married couples on taxes ? Should i sell 3k in loses ? How does it work
@user-Kova15
What’s illegal is taxing people directly, which is literally unconstitutional
@user-Kova15
Islam is a fascist religion. Death to shitlam