Welcome to the Investing for Beginners podcast! Today’s episode will be about us talking on everybody’s favorite subject- taxes! Sarcasm intended. As we near the tax filing season, we find it timely to talk about how taxes impact investing and ultimately your path to financial freedom. Listen on as we break down this important topic everybody’s raving, or ranting about.
Timestamps of the episode:
-Why the topic of taxes is relevant in investing. [02:34]
-What are capital gains really? [04:21]
-Different vehicles that reduce taxes in investing. [05:33]
-The difference between traditional IRA and 401k accounts. [07:28]
-How dividends are taxed between the two retirement accounts. [11:19]
-What is a HSA? and why you would want to have one. [13:27]
-Breaking down tax deductions. [17:00]
-Talking about tax harvesting and why you should not make portfolio decisions based on this. [18:41]
-The best way to avoid taxes and how Buffett used this to compound his wealth. [22:23]
-How do you file your taxes? The two approaches you can take. [24:21]
-How the software Turbotax helps Dave in his taxes. [25:22]
Note: Timestamps may differ and are approximate, depending on your podcast player.
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You can find the transcript of today’s show below:
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