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Main Street Business

#485 10 Capital Gains Tax Strategies that Keep More Money in Your Pocket

Main Street Business

Mark J Kohler and Mat Sorensen

Tax Reform, Irs Updates, Financial Reporting, Management, Business Structure, Accounting, Legal Compliance, Business, Entrepreneurship, Tax Strategies, Tax Tips, Estate Planning, Tax Prep

4.8584 Ratings

🗓️ 16 March 2024

⏱️ 21 minutes

🧾️ Download transcript

Summary

In this episode of the Main Street Business Podcast, host Mark J Kohler unpacks and breaks down the best ways to tackle Capital Gains tax. He maps out ten helpful strategies that can give you the edge you need to offset Capital Gains and save thousands of dollars. Here's what you can expect: An in-depth view of ten powerful strategies aimed at navigating capital gains tax, typically kept behind a paywall, now accessible for all.Valuable insights usually reserved for the wealthy elite.A cleare...

Transcript

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0:00.0

Welcome to capital gain strategies that only the rich know about.

0:07.0

In this video, I am going to walk you through 10 strategies that you can use to tackle capital gains tax.

0:12.0

Now, this information is usually behind a massive paywall that only the wealthy can afford.

0:17.0

More specifically, I'm going to explain how these 10 strategies may actually avoid

0:22.4

delay, offset, or eliminate capital gains taxes altogether. In fact, last week, I just helped

0:28.6

a client wrap up the deal of saving over $700,000 in capital gains tax for 2023 and pay zero in tax.

0:37.6

Now, don't think this doesn't apply to you.

0:39.5

This can apply to a small business, big business, or no business at all.

0:43.5

If you don't start applying these strategies immediately,

0:46.1

you're going to be leaving a lot of money on the table.

0:48.3

And this is information you may only learn from technically trained accountants or lawyers

0:53.3

who some may say are very expensive,

0:55.3

but are working in the trenches daily to help their clients better understand how to tackle

0:59.2

the capital gains tax and which strategies actually work. And today, I'm here to guide you through

1:04.3

these strategies. I am that guy. I am a CPA, attorney, bestselling author, and a partner

1:09.9

in a law firm for over 20 years

1:11.5

helping clients tackle these and many other tax issues, saving them thousands and thousands

1:16.5

of dollars.

1:17.4

First, let's talk about two strategies to avoid capital gains tax.

1:23.5

Number one, the charitable remainder trust, or CRT.

1:27.3

Now, there's a lot of variations of the CRT, and it can get complicated really quickly.

1:32.8

But let me give you an example here on the whiteboard of how the CRT generally works, and we like the CRT, or the charitable remainder unit trust.

...

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