WCI #291: Tax Loss Harvest Before Year End
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 1 December 2022
⏱️ 76 minutes
🧾️ Download transcript
Summary
Today we get into the weeds of tax loss harvesting. With the current state of the market it looks like there are a lot of out there who have decided to tax loss harvest. Today we answer your questions about the wash sale rule as well as discuss if adding some complexity to your portfolio could create more opportunity to tax loss harvest. We also tackle some questions about taxes, the ROBS program and how to minimize your taxes as a 1099 employee.
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The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you!
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Transcript
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| 0:00.0 | This is the Whitecode Investor Podcast, where we help those who wear the Whitecode get a fair shake on Wall Street. |
| 0:05.3 | We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011. |
| 0:15.0 | Hi, and welcome to another Whitecode Investor Podcast. I'm your host, Dr. D'Shaespa. |
| 0:20.0 | I'm here with Dr. Jim Dolly, and this is episode number 291. |
| 0:24.5 | This podcast is sponsored by Bob Bianni at drdisabilityquotes.com. |
| 0:29.5 | Bob is an independent provider of disability insurance planning solutions to the medical community in every state, and a long-time Whitecode Investor sponsor. |
| 0:37.5 | He specializes in working with residents and fellows early in their careers to set up sound financial and insurance strategies. |
| 0:44.5 | If you need to review your disability insurance coverage or to get this critical insurance in place, |
| 0:49.5 | contact Bob at drdisabilityquotes.com today by email at info at drdisabilityquotes.com or by calling 973-771-9100. |
| 1:01.5 | Again, that's 973-771-9100. |
| 1:05.5 | Our quote of the day today is by Warren Buffett. He said, |
| 1:09.5 | I will tell you how to become rich. Close the doors, be fearful when others are greedy and be greedy when others are fearful. |
| 1:19.5 | I mean, really, being in a contrarian and the financial circles can be a little scary, but it can pay off in the long run. |
| 1:25.5 | I think this is what this quote is talking about. |
| 1:27.5 | I'm so glad you're here today. Thank you for what you do. What you do isn't easy. So let me read the first to thank you. |
| 1:33.5 | All right, Jim, how are you today? |
| 1:35.5 | I'm doing great. I just got out of the ER had a shift yesterday. And you know, it's one of those shifts where you just don't feel like you're winning. |
| 1:43.5 | I had a lady come in super hypotensive, like 65 over 35 or something. And it seemed like everything I did wouldn't fix it. |
| 1:51.5 | Four bags of fluid, two units of blood later, you know, starting, you know, pressers and given antibiotics and I'm talking to the intensiveist on the line. |
| 2:00.5 | I'm like, I'm just not winning here, you know, the lactate's still 19. She's sitting here talking to me, though, with a pH of 7.0 and it's not getting better. I need some help. |
| 2:08.5 | And you know how wonderful it is to be able to call somebody and get some help in a situation like that. So thanks to all of you who spent years in an ICU fellowship. |
| 2:20.5 | And I learned and take care of those very, very old patients. I know they appreciate it. I know their families do. And I know I did yesterday. So thank you very much to Dr. Hammond who came in to help me as well as to all you other intensive us out there. |
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