cover of episode Retirement Year End Planning: Tax-Loss Harvesting

Retirement Year End Planning: Tax-Loss Harvesting

2024/11/6
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Erin Coe
专注于税损收获和退休规划的经验丰富财务规划师和税务专家。
R
Roger Whitney
一位专注于退休规划和财务健康的经验丰富财务规划师和播客主持人。
Topics
Erin Coe 解释了税损收割的概念，即通过出售亏损的资本资产来抵消资本收益或其他收入，从而降低纳税义务。她详细说明了资本损失的定义、抵消规则、洗售规则以及其他需要注意的事项，例如关联方交易和结转损失的申报。Roger Whitney 补充了在市场压力大的时期进行税损收割的策略，并强调了全年关注投资组合的重要性。

Deep Dive

Chapters
This chapter introduces tax-loss harvesting, explaining its purpose, how it works, and its benefits in reducing taxable income and liability.
  • Tax-loss harvesting involves intentionally selling capital assets at a loss to reduce current or future tax liability.
  • Capital assets include stocks, ETFs, and other investment properties, but not personal use items like houses or cars.
  • Losses can offset gains or be used to reduce other types of income up to $3,000 per year, with unused losses carrying forward indefinitely.

Shownotes Transcript

Welcome to a transformative episode where we delve into year-end financial strategies to optimize your retirement planning. Join us as we discuss tax-loss harvesting with Erin Coe, a seasoned planner and tax expert. Learn how to strategically sell capital assets at a loss to reduce your tax burden and explore the nuances of capital gains, wash-sale rules, and more. Plus, we answer listener questions about Roth conversions and annuities. Don't miss this insightful guide to maximizing your financial health!

PRACTICAL PLANNING SEGMENT

(00:25) Today on the show we begin to explore year-end action items.

(02:23) So now that we're into tax season, we're going to do a primer on tax-loss harvesting with Erin Coe.

(03:59) Tax-loss harvesting is the act of intentionally selling capital assets at a loss

(05:25) Defining what a capital loss is

(08:42)The intent is to reduce taxable income and reduce taxable liability 

(10:12) How do you gauge the impact of this?

(13:34) Leave some buffer room to be careful on tax cliffs

(15:35) The wash-sale rule means you can't sell a capital asset and claim that loss and then repurchase it within 30 days

(21:27) What are some gotchas that we need to watch out for when evaluating portfolios?

(22:24) Another problem is those carry forwards, you need to track it every year whether you are using it or not.

(26:40) Tax loss harvesting is not just a December activity, it’s a year-round sport

LISTENER QUESTIONS

(28:05) Greg asks a question about Roth conversions for his older relative

(34:24) Stanley says his wife has a taxable MYGA, multi year guaranteed annuity, and wants to know if he should take the lump sum or roll it into something else.

(40:28) Jay asks about the pie or bucket approach

SMART SPRINT

(46:50) Review your after-tax accounts looking for unrealized losses and examine whether you can use them productively 

Join our live event on Roth conversions at livewithroger.com or sign up for the replay at sixshotsaturday.com.

REFERENCES 

Dinkytown.net)

Turbo Tax)

Retirement Podcast Network)Six Shot Saturday)

Retirement Answer Man)