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Stay Wealthy Retirement Podcast

Tax-Loss Harvesting (Part 1): The 5 Things You Need to Know

Stay Wealthy Retirement Podcast

Taylor Schulte, CFP®

Financialplanning, Retirement, Money, Taxplanning, Stocks, Wealth, Business, Investing, Retirementplanning

2.4606 Ratings

🗓️ 24 August 2022

⏱️ 24 minutes

🧾️ Download transcript

Summary

Today I'm kicking off a multi-part series on tax-loss harvesting

In part one, I'm breaking down:

  • What tax-loss harvesting is (and how it works)
  • Why it has become a popular tax strategy
  • 5 little-known things about the wash sale rule

If you’re a retirement saver ready to learn all about tax-loss harvesting, you’re going to love this episode...and this series.

***

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Transcript

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0:00.0

Hey everyone. Every week, in addition to this podcast, I write and send out a concise educational

0:06.0

article. The topics are focused purely on retirement, tax planning, and smart investing.

0:11.5

For example, my email going out tomorrow is a summary of what you need to know about the 300-page

0:16.8

inflation reduction act that was just signed into law. If you're not subscribed to the

0:21.5

Stay Wealthy e-newsletter, you can get signed up by going to you staywealthy.com forward

0:26.8

slash email. That's you staywealthy.com forward slash email. But I've also included a link

0:32.5

in your podcast app to make it even easier for you. Just open up the description for this episode in the app that

0:39.0

you're using right now to listen and look for the link that says subscribe to the newsletter.

0:44.3

Okay, on to today's show. Welcome to the Stay Walthy Podcast. I'm your host, Taylor

0:53.3

Schulte, and today I'm kicking

0:54.5

off a multi-part series on tax loss harvesting. Here in part one, I'm breaking down what tax

1:00.2

loss harvesting is and how it works, how to avoid getting in tax trouble, and finally, five

1:06.5

little known things to know about wash sale rules. So if you're a retirement saver ready to learn

1:11.8

everything that you need to know about tax loss harvesting, you're going to love this episode

1:16.5

and this series. For all the links and resources mentioned today, head over to you staywealthy.com

1:21.7

forward slash 165.

1:27.3

Tax loss harvesting helps turn a dip in the market into a tax deduction.

1:32.4

This investment strategy can help you lower your overall tax bill.

1:36.5

On average, we've added an extra 1.8% to our clients after tax returns.

1:42.1

Those are claims made by some very popular online investing services

1:46.1

taken straight from their website. And these claims coupled with mountains of advertising

1:51.1

dollars and brilliant marketing teams have really put the spotlight on tax loss harvesting

...

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