Short-term capital gains? Qualified dividends? Tax loss harvesting? Strap in, people, we’re taking a cruise down the chocolate river of all things investment taxes, and I’ll be your Wonka.
Fear of taxes (or maybe just uncertainty) keeps people out of the game, and I think that’s a little bit like declining a raise because you don’t want to pay taxes on the incremental income—if you owe taxes on your investments, it probably means you made money in the first place.
Learn more about our sponsor, TaxAct: https://www.taxact.com/moneywithkatie
Transcripts can be found at podcast.moneywithkatie.com.
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Mentioned in the Episode
Tax-sheltered accounts: https://www.irs.gov/retirement-plans/irc-403b-tax-sheltered-annuity-plans
Capital gains & dividends: https://www.irs.gov/taxtopics/tc404
Capital gains tax rates: https://www.irs.gov/taxtopics/tc409
2022-2023 capital gains tax rates: https://www.nerdwallet.com/article/taxes/capital-gains-tax-rates
Ordinary vs. qualified dividends: https://www.investopedia.com/ask/answers/12/how-are-capital-gains-dividends-taxed-differently.asp
Wash sale: https://turbotax.intuit.com/tax-tips/investments-and-taxes/5-situations-to-consider-tax-loss-harvesting/L06jlQWfl
Tax loss carryforward: https://www.sofi.com/learn/content/tax-loss-carryforward/
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