Taxes on stock gains: how to avoid capital gains tax on stocks

#81: With the market rallying like crazy this past year, you might have significant capital gains on stocks right now.Now might be a good time for some of you investors to harvest some capital gains. Maybe you’re looking to buy a house. Or maybe you just want to rebalance your investments.But when you sell stock, you pay taxes on the sale.And capital gains taxes can get complex because the effective tax rate you pay when you sell stock depends on whether there are long-term vs. short-term capital gains, whether there are any long-term vs. short-term losses, what your marginal tax rate is, and even whether you are required to pay the Medicare Surcharge Tax.That’s why this week I invited CFA Scott Stratton to explain the intricacies of how capital gains taxes work. We discuss key rules and strategies you need to know to do thoughtful capital gains tax planning. If you want to learn how to minimize capital gains taxes, then don’t miss this episode.You’ll learn:What types of assets capital gains taxes apply toDifference between short-term vs. long-term capital gains tax treatmentHow capital gains and losses work in tandem come tax filing timeHow to harvest capital losses and harvest capital gainsCurrent proposed legislative changes to capital gains tax ratesWhat investors may want to consider doing now before potential changes take effectCheck it out here:https://hackyourwealth.com/capital-gains-tax-on-stocksWhat other tax planning questions do you have about capital gains taxes? Let me know by leaving a comment.Don't miss an episode, hit that subscribe button...If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes!Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :)If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too!Links mentioned in this episode:Good Life Wealth ManagementTax Loss Harvesting: Rules and Strategies with Bob Dockendorff (HYW022)How to take a year off, earn 6 figures, harvest capital gains, do Roth conversions…and pay zero taxes on it allHow to earn 6 figures and legally pay zero taxes (updated for 2020) (HYW021)Avoiding capital gains tax on real estate: how the home sale exclusion worksHow the Home Sale Capital Gains Tax Exclusion Works (HYW033)Schedule a private 1:1 consultation with meHYW private Facebook community Intro/Outro: Old Bossa by Twin Musicom.