2849: Tax Basis For Beginners by Sean Mullaney of FI Tax Guy on Double Taxation & Clarifies Taxable Gains

Optimal Finance Daily - Financial Independence & Money Advice

Indhold leveret af Optimal Living Daily LLC and Optimal Living Daily | Diania Merriam. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af Optimal Living Daily LLC and Optimal Living Daily | Diania Merriam eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.

2M ago 13:09

MP3•Episode hjem

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.

Episode 2849:

Sean Mullaney of FITaxGuy.com demystifies the concept of tax basis, illustrating how it prevents double taxation and clarifies taxable gains. Learn the essentials of depreciation, the benefits of a step-up in basis at death, tax loss harvesting strategies, and the unique considerations for basis in retirement accounts.

Read along with the original article(s) here: https://fitaxguy.com/tax-basis-for-beginners/

Quotes to ponder:

"Basis is what allows us to measure the appropriate gain or income to the seller of property."

"The tax basis of inherited assets is 'stepped-up' to the fair market value of the asset on the original owner’s date of death."

"Tax loss harvesting is a neat tool in the tax planning toolbox."

Episode references:

Internal Revenue Service: https://www.irs.gov

Learn more about your ad choices. Visit megaphone.fm/adchoices

3723 episoder