WCI #126: How to Reduce your Investment Taxes with Phil DeMuth
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.9 • 2.3K Ratings
🗓️ 3 October 2019
⏱️ 76 minutes
🧾️ Download transcript
Summary
Every doctor and other high income earner wants to reduce their investment taxes. Our podcast guest, Phil DeMuth, is just the man to help you do that. See the full transcription and links to everything discussed in this episode at https://www.whitecoatinvestor.com. Phil is the managing director at Conservative Wealth Management, LLC, http://phildemuth.com/ where he enjoys working with "high net worth clients and saving them from the depredations of the financial services industry." He is the author of 11 books, my favorites being The Affluent Investor and The Overtaxed Investor. We really focus on taxes in this episode, especially investment-related taxes. Phil says that doctors are ducks in a shooting gallery. We are the most vulnerable people in terms of taxes and we need to learn to defend ourselves as best we can. In this episode we look at all the tax reducing tactics like maximizing the use of retirement accounts, using tax efficient investments in your taxable accounts, getting your asset location right, making sure your dividends are qualified and that your capital gains are long-term, depreciating real estate, tax loss harvesting, donating appreciated shares to charity to flush those capital gains out of your portfolio, getting a step up in basis at death, etc. Which of these tactics will make the most impact? Listen to this episode to figure it out.
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Transcript
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| 0:00.0 | This is the White Coat Investor Podcast, where we help those who wear the white coat get a fair shake on Wall Street. |
| 0:06.0 | We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011. |
| 0:12.0 | Here is your host, Dr. Jim Dolly. |
| 0:15.0 | This white-coat investor podcast number 126, |
| 0:21.0 | reducing investment taxes with Phil DeMuth. |
| 0:24.1 | Thanks so much for what you do. |
| 0:25.2 | I think you're probably on your way into work |
| 0:26.9 | or you're out walking around the neighborhood with the dog |
| 0:28.9 | or maybe you're on the way home |
| 0:30.1 | after a difficult shift or a difficult day in clinic and if nobody told you thanks today let me be the first. |
| 0:37.2 | Be sure you check out our YouTube channel you can find that a YouTube. |
| 0:40.3 | com slash the white code investor if you like the video format it's YouTube. |
| 0:43.0 | The White Code Investor. If you like the video format, it's a great one and we're trying to boost the amount of content we put on there every month. |
| 0:49.0 | We're going to try to put a little bit more kind of short form content that's just three to five minutes long |
| 0:54.1 | rather than some of the longer stuff we put up in the past but be sure to check that |
| 0:57.6 | out you can also join the white code investor private Facebook group that That's found at |
| 1:02.8 | W. Facebook.com slash groups slash white code investors. |
| 1:08.4 | Because remember you are the white code investors not me. I suppose I'm one as well, but the whole |
| 1:13.8 | point of calling this whole enterprise the white code investor was not that I was the |
| 1:17.7 | white code investor, but that you are the white code investors. Our quote of the day |
| 1:22.3 | today comes from Peter Lynch who said I can't |
| 1:24.8 | recall ever once having seen the name of a market timer on Forbes annual list of |
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