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Ep. 11: Capital Gains Tax Made Simple: Key Concepts and Examples
Manage episode 358007307 series 3428945
Contenido proporcionado por Ted Gudorf, Danny Gudorf, Gudorf Law Group, Gudorf Financial Group, Ted Gudorf, Danny Gudorf, Gudorf Law Group, and Gudorf Financial Group. Todo el contenido del podcast, incluidos episodios, gráficos y descripciones de podcast, lo carga y proporciona directamente Ted Gudorf, Danny Gudorf, Gudorf Law Group, Gudorf Financial Group, Ted Gudorf, Danny Gudorf, Gudorf Law Group, and Gudorf Financial Group o su socio de plataforma de podcast. Si cree que alguien está utilizando su trabajo protegido por derechos de autor sin su permiso, puede seguir el proceso descrito aquí https://es.player.fm/legal.
In 2018, the federal government collected over $170 billion in capital gains taxes. With all the economic turbulence we continue to experience in 2023, it’s more important than ever to understand the key concepts of capital gains tax to be better equipped to preserve our wealth.
In this episode of Repair the Roof, Attorney Ted Gudorf defines the term “capital asset,” when and how it is taxed, and what strategies we can employ in our estate planning to avoid the payment of capital gains tax in a legal and lawful manner.
Key Topics:
- “What is a capital asset?” (0:48)
- The difference between long-term and short-term capital gains (3:49)
- Breaking down the four long-term capital gains tax rates (4:46)
- How to report capital gains and minimize the amount you have to pay (07:30)
- Tax-loss harvesting (13:25)
- Eliminating capital gains tax by taking a highly-appreciated asset (14:50)
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