WCI #377: Tax Payments and Savings
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.9 • 2.3K Ratings
🗓️ 25 July 2024
⏱️ 49 minutes
🧾️ Download transcript
Summary
Today we are answering your questions from the speak pipe. We discuss quarterly estimated payments and the safe harbor rule. We cover tax loss harvesting and not letting the tax tail wag the investment dog and if you should ever change your asset allocation for potential tax savings. We talk about travel expenses and tax implications that come with that, reducing adjusted gross income and what to do when you do not couple match into residency. Those questions and more in this episode!
Today’s episode is brought to you by SoFi, helping medical professionals like us bank, borrow, and invest to achieve financial wellness. SoFi offers up to 4.6% APY on their savings accounts, as well as an investment platform, financial planning, and student loan refinancing…featuring an exclusive rate discount for med professionals and $100/month payments for residents. Check out all that SoFi offers at https://www.whitecoatinvestor.com/Sofi
*Loans originated by SoFi Bank, N.A., NMLS 696891. Advisory services by SoFi Wealth LLC. The brokerage product is offered by SoFi Securities LLC, Member FINRA/SIPC. Investing comes with risk including risk of loss. Additional terms and conditions may apply.
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 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 is for you!
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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. |
| 0:06.1 | We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011. This is White Coen Investor Podcast number 377. |
| 0:19.0 | Today's episode is brought to you by Soapai, helping medical professionals professionals like us bank borrow and invest to achieve financial wellness |
| 0:25.1 | SoFi offers up to 4.6% APY on their savings accounts as well as an investment platform |
| 0:30.1 | financial planning and student loan refinancing. |
| 0:32.1 | Featuring an exclusive rate discount for med professionals |
| 0:35.0 | and $100 a month payments for residents. |
| 0:37.0 | Check out all that SOFI offers at whitecoat investor. |
| 0:40.0 | Com slash SOFI. |
| 0:41.0 | Loans originated by SOFI Bank N. AndMLS 69891, advisory services by Sofi Wealth LLC. |
| 0:46.2 | This brokerage product was offered by Sofi securities LLC. |
| 0:48.8 | Member FINRA, SIPC. |
| 0:50.4 | Investing comes with risk, including risk of loss, additional terms and conditions may apply. |
| 0:54.1 | Welcome back to the podcast. Glad to have you here from recording this at the mid-June, |
| 0:59.6 | but it's not going to run until about a month later. So lots of stuff is going to happen |
| 1:04.4 | between when I record this and when you hear it. So I've gotten a pretty |
| 1:08.6 | exciting month that's been going on. We're leaving tomorrow for the Salmon River and do the middle fork of the salmon, back for three days, a week at Lake Powell, back for one day, going to raft, |
| 1:21.1 | Halt Hell's Canyon in the lower salmon and then back overnight and then Katie and I have got a two day |
| 1:28.4 | 25th anniversary celebration plans. So it's pretty exciting. You know, it's going to be fun. I've rented a McLaren super car, so we'll get some fun out of that. It should be fun. And we're going to go do some downhill mountain biking and go to some great restaurants and go see a concert and all kinds of fun stuff so I guess it won't be until I record an episode after that that you get actually get here all the details |
| 1:53.8 | but we got a pretty fun celebration plan you don't have a 25th anniversary every year obviously and who knows you |
| 2:01.2 | never know what life's going to bring at you. |
| 2:02.7 | There may not be a 50th, you know, |
... |
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