Welcome to Radical Personal Finance, a show dedicated to providing you with the knowledge, skills, insight, and encouragement you need to live a rich and meaningful life now, while building a plan for financial freedom in 10 years or less.

Today on the show, we're going to talk about capital gains taxes. I'm going to give you kind of a mini lesson, a mini lecture on capital gains taxes, and then we're going to focus a good bit on discussing opportunity zones. I should have done this episode

months ago and I thank you for your patience with me. I should have done this if

you remember the three-part series that I did on saving taxes by moving to a no-income tax state

saving taxes by moving outside of the United States saving taxes by moving to Puerto Rico

I should have done this episode immediately the next day but in all of the busyness and

challenge in my own personal life of a new baby I simply wasn't prepared to do it

so thank you for your patience but I'm ready to do it now and today I'm

going to talk about opportunity zones because Zones are a newly created scheme by the IRS or by the legislators, I should say, out of the 2017 Tax Cut and Jobs Act.

And they are an opportunity for you and for me

that could help us to save on capital gains taxes.

Let's talk a little bit about capital gains taxes first. In many ways, capital gains

taxes are less offensive to us than ordinary income taxes. But in some ways they are harder for us to avoid, which is a real challenge when it comes to planning.

As I discussed in the three-part series you can eliminate legally your ordinary income

taxes by moving from for a certain state by moving to a state that doesn't have

ordinary income taxes you can reduce or eliminate your ordinary income taxes on

your income by moving outside of the United States and I should specify that this

show especially the opportunity zones will be exclusively

applicable to U.S. persons. The first part where I and I talk about capital gains

taxes will be applicable to non-U.S. persons but the second half of the show is exclusively applicable to

US persons but US persons can minimize their ordinary income taxes by

moving outside of the United States or potentially by moving to Puerto Rico or ultimately by

...