The Mind Money Spectrum Podcast

#48. Use it or lose it. When the year ends so does your opportunity for big tax savings.

November 10, 2020 Aaron Agte and Trishul Patel Season 1 Episode 48
The Mind Money Spectrum Podcast
#48. Use it or lose it. When the year ends so does your opportunity for big tax savings.
Chapters
The Mind Money Spectrum Podcast
#48. Use it or lose it. When the year ends so does your opportunity for big tax savings.
Nov 10, 2020 Season 1 Episode 48
Aaron Agte and Trishul Patel

In this episode, Trishul and Aaron discuss end-of-year tax planning, principally as it relates to your investments. During this period, you already know most your entire financial situation for the year. But also you still have time to take meaningful action before December 31st. Valuable strategies around this time involve tax-loss harvesting, RMDs, exercising ISOs without going into AMT, and Roth conversions. End-of-year tax planning does not always mean you should lower your taxable income. But instead, you should target a tax bracket that will help reduce your overall tax burden over your entire lifetime.

Episode References

MMS #19. Life doesn't need to begin at retirement. Here's why.
MMS #31. Watch out for these costly mistakes with your taxable investments.
MMS #26. Practical advice on navigating a dysfunctional healthcare system.
MMS # 43. Is your asset allocation putting your retirement at risk?
Graystone Advisor - Exercising ISOs
Investing Forever - It's all about fees.
Investing Forever - Don't miss out, you'll regret it.
Investing Forever - Ira is your friend.
Rebalancing: A sound strategy for limiting risk
Offsetting Gains through tax-loss harvesting
Capital Gains Taxes and Portfolio Rebalancing
Wash Sale Rule
SECURE Act
CARES Act

Podcast Description

Welcome to The Mind Money Spectrum Podcast where your hosts Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Financial Planner from the Bay Area, and Trishul is a Wealth Manager on the East Coast. For more information about Aaron, check out GraystoneAdvisor.com. And for more information on Trishul check out InvestingForever.com. We thank you all for listening, and stay tuned for our latest episode on our website, MindMoneySpectrum.com.

Show Notes

In this episode, Trishul and Aaron discuss end-of-year tax planning, principally as it relates to your investments. During this period, you already know most your entire financial situation for the year. But also you still have time to take meaningful action before December 31st. Valuable strategies around this time involve tax-loss harvesting, RMDs, exercising ISOs without going into AMT, and Roth conversions. End-of-year tax planning does not always mean you should lower your taxable income. But instead, you should target a tax bracket that will help reduce your overall tax burden over your entire lifetime.

Episode References

MMS #19. Life doesn't need to begin at retirement. Here's why.
MMS #31. Watch out for these costly mistakes with your taxable investments.
MMS #26. Practical advice on navigating a dysfunctional healthcare system.
MMS # 43. Is your asset allocation putting your retirement at risk?
Graystone Advisor - Exercising ISOs
Investing Forever - It's all about fees.
Investing Forever - Don't miss out, you'll regret it.
Investing Forever - Ira is your friend.
Rebalancing: A sound strategy for limiting risk
Offsetting Gains through tax-loss harvesting
Capital Gains Taxes and Portfolio Rebalancing
Wash Sale Rule
SECURE Act
CARES Act

Podcast Description

Welcome to The Mind Money Spectrum Podcast where your hosts Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Financial Planner from the Bay Area, and Trishul is a Wealth Manager on the East Coast. For more information about Aaron, check out GraystoneAdvisor.com. And for more information on Trishul check out InvestingForever.com. We thank you all for listening, and stay tuned for our latest episode on our website, MindMoneySpectrum.com.