Ep. 11: Capital Gains Tax Made Simple: Key Concepts and Examples
Subscribe where ever you listen to Podcasts:
In 2018, the federal government collected over $170 billion in capital gains taxes. With all the economic turbulence we continue to experience in 2023, it’s more important than ever to understand the key concepts of capital gains tax to be better equipped to preserve our wealth.
In this episode of Repair the Roof, Attorney Ted Gudorf defines the term “capital asset,” when and how it is taxed, and what strategies we can employ in our estate planning to avoid the payment of capital gains tax in a legal and lawful manner.
- “What is a capital asset?” (0:48)
- The difference between long-term and short-term capital gains (3:49)
- Breaking down the four long-term capital gains tax rates (4:46)
- How to report capital gains and minimize the amount you have to pay (07:30)
- Tax-loss harvesting (13:25)
- Eliminating capital gains tax by taking a highly-appreciated asset (14:50)
- Gudorf Law Group
- The Ohio Estate Planning Guide - Free Book
- Gudorf Law: What We Do and How We Help Webinar
- Don't Go Broke in Nursing Home Workshop
- When a Loved One Dies: A Legal Guide - Free Book
- Subscribe on YouTube