Podcasts about federal taxes

Greg Belfrage talks to listeners about the recent statement made by Jeff Bezos that people under a certain tax bracket should not have to pay federal income tax. Some reacted by saying lower income people don't pay that much in taxes right now, and other people said if they don't pay taxes then they shouldn't be allowed to vote. See omnystudio.com/listener for privacy information.

The top 10% pays 60% of all federal taxes, the bottom 20% pays effectively nothing, and last year's tax cuts added new complexity. Cato's Chris Edwards and Adam Michel unpack the numbers and make the case for real reform. Hosted on Acast. See acast.com/privacy for more information.

Living in New Hampshire since 1987, Christopher Gronski has a great concern for America as he sees the local, state, and federal governments disregard the Rights of the People.New Hampshire's state motto “Live Free or Die” declares his sentiment and commitment to the Freedom movement here in America.Christopher has been studying US Federal jurisdiction and State and federal tax laws for over 25 years and has been a Private Freedom Consultant for many Freedom-minded people worldwide.He has served as the New Hampshire State Coordinator for We The People for over 10 years, is President of Freedom Force International, and an active supporter of the Free State Project.Christopher has held public office as a Selectman in Hill, NH, worked with legislators to protect rights, and successfully assisted in obtaining State Citizen Passports recognized by the U.S. State Department without federal 14th Amendment status.He teaches State Citizenship Classes online at DestinationFreedom.org and helps people eliminate debt, deal with the IRS, and set up Foreign Trust Organizations.Go to: https://destinationfreedom.org/ ----Are you following health trends that actually harm your health? In my eye-opening masterclass "The 7 Popular But Deadly Health Fads," I reveal how common health practices promoted by influencers and gurus might be ravaging your gut, accelerating disease, and shaving years off your life.Discover which popular diets, supplements, and health rituals are secretly sabotaging your health and learn what to do instead. I explain why these seemingly healthy habits are damaging your body and provide actionable alternatives for true longevity.Register for free access to this essential health information athttps://www.livelongerformula.com-------------Check out the first volume in the How to Actually Live Longer book series on Amazon: https://amzn.to/4dDXjxc

A new bill seeks to exempt National Guard and Reserve drill pay from federal income taxes. The No Tax on Drill Pay Act would eliminate taxes on income earned during Inactive Duty Training, which typically includes monthly drill weekends and other readiness training throughout the year. Congressman Andy Barr, who introduced the bill, said eliminating federal taxes on drill pay would reward the more than 800,000 Americans who serve in the Guard and Reserve. The bill follows several recent proposals aimed at making certain military pay tax-free. Last year, a group of lawmakers introduced legislation to exempt all military bonuses from federal income tax, while another proposal is seeking to fully exempt military compensation from federal income tax. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Are you waiting for your tax refunds? Does the State and the federal government give their tax refunds on the exact same day? Find out now! Do you have unfiled tax returns that need filing? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit:   / taxrelief   

If you think that the tax you see added to your subtotal on any retail receipt is the total amount of tax you're paying on that purchase, you're dead wrong. This week, AFFT president Steve Hayes explains how federal taxes that you don't see on your receipt make everything you buy significantly more expensive.

We discuss changes in the law and who stands to benefit the most.

In this episode of The First Day from The Fund Raising School, host Bill Stanczykiewicz, Ed.D., rings in the new year with a bang, and a tax code, diving headfirst into the new federal tax policies that officially took effect on January 1, 2026. While the legislation passed in mid-2025, the real fireworks are just starting for fundraisers. Bill breaks it all down, starting with the triumphant return of the Universal Charitable Deduction (UCD), now juiced up to $1,000 for individuals and $2,000 for joint filers. That's right: even if your donors don't itemize, they can still get tax credit for their generosity. The new policy also brings in the “ceiling and floor.” High-income donors can now only itemize at the 35% rate, and folks outside that bracket can't deduct the first 0.5% of their adjusted gross income. Sound confusing? Maybe. But Bill reassures fundraisers: unless your donor database is loaded with ultra-wealthy supporters, this might not move the needle much. Still, if you're courting those high-capacity givers, these changes are worth a donor-friendly conversation. Speaking of deductions, the SALT (State And Local Taxes) cap got a spicy upgrade too, up from $10,000 to $40,000. That's a potential game-changer for itemization and, by extension, charitable giving. While taxes are never the main motivator for giving, they do play a supporting role in the drama of generosity. More itemizers = more donors who might feel nudged to give, or give more. Fundraisers, your mission is to weave this into donor conversations with a healthy dose of donor appreciation and mission alignment. The biggest “will-they-won't-they” question hangs over the business sector. New rules make the first 1% of pre-tax profit donations non-deductible, since businesses typically give 1%. But before anyone panics, Bill reminds us: business giving isn't just about tax perks. It's about government relations, employee morale, community goodwill, and, of course, good ol' fashioned marketing. The four R's: regulations, retention, reputation, and ROI aren't going away. If a business hints at cutting donations, maybe it's time to pivot: is your partnership a charitable gift or a marketing opportunity? IRS Publication 513 can help you draw the line. So cue the confetti, fundraisers; new year, new tax rules, and new reasons to stay connected, adaptable, and mission-driven.

Dive into Bonus Episode 47 of The Alan Sanders Show, where host Alan Sanders recaps a tumultuous week in the headlines marked by shocking tragedies and political intrigue. This bonus edition draws from Alan's live Saturday radio show, “Waking Up with Alan,” on WBHF. Key highlights include a poignant discussion of Erika Kirk's emotional first public address following the assassination of her husband, conservative activist Charlie Kirk, where she honors his legacy with a powerful tribute to President Trump and vows to amplify his message of unity and resilience. Alan also unpacks the broader implications of the "bad week" in news, from the deaths of two young women to the media's misinformation and propaganda. Rounding out the episode is the signature "real-estate 2nd Saturday" segment, offering timely insights into housing market trends, buyer tips, and investment strategies amid shifting economic conditions. And, as always, we end the show with the Vulcan Mind-meld segment. Perfect for fans of conservative commentary, current events analysis, and practical advice—this episode delivers sharp wit, unfiltered takes, and actionable wisdom in less than two hours. Please take a moment to rate and review the show and then share the episode on social media. You can find me on Facebook, X, Instagram, GETTR,  TRUTH Social and YouTube by searching for The Alan Sanders Show. And, consider becoming a sponsor of the show by visiting my Patreon page!

In this episode of Good Morning Liberty, hosts Nate Thurston and Charles Chuck Thompson kick off with some playful banter about their recent move and the hilarious saga of Nate's lost and found wallet. They discuss their new studio setup and the lack of preparation for the show. The episode heats up as they delve into a controversial debate between Dave Smith and Alex Berenson, tackling the accusations and awkward moments that ensued. The hosts dissect Berenson's claims, the dynamics of the debate, and its implications. They also touch on topics like Israel-Gaza conflicts, disaster aid tied to political stances, and Trump's response to job numbers. The episode rounds out with a fun Q&A session with the live audience, covering diverse topics from personal experiences to political insights. (00:00) Intro (03:58) Debate Recap: Dave Smith vs. Alex Berenson (16:48) Trump Administration's New Policy on Israel (20:54) Trump's Reaction to Jobs Numbers (28:08) Trump Fires US Labor Statistics Commissioner (28:32) Trust Issues with Government Data (29:27) Potential Solutions and Conspiracy Theories (31:11) Revisions and Survey Methodology (33:15) Critique of Centralized Control (35:05) Q&A Session Begins (40:51) Discussion on Federal Taxes   Links:   https://gml.bio.link/   YOUTUBE:   https://bit.ly/3UwsRiv   Check out Martens Minute!   https://martensminute.podbean.com/   Follow Josh Martens on X:   https://twitter.com/joshmartens13   CB Distillery 25% off with promo code GML   cbdistillery.com   Join the Fed Haters Club!   joingml.com    

As state officials continue to battle the Trump Administration on several fronts, including the deployment of troops in LA following protests over the ICE raids, Governor Newsom has floated the idea of withholding taxes it pays the government. That came in response to reports the Trump administration was considering withholding funding to the state of California. For more, KCBS Radio anchor Steve Scott spoke with KCBS Insider Phil Matier.

Join America's Roundtable (https://americasrt.com/) radio co-hosts Natasha Srdoc and Joel Anand Samy with host Gerard Gibert, an extraordinary entrepreneur and business leader. Mr. Gibert is also the host of Middays with Gerard on SuperTalk Mississippi . The timely and relevant conversation on America's Roundtable with Gerard Gibert focuses on the issues impacting Americans including the urgency to provide certainty and clarity to business leaders and entrepreneurs in the area of taxation, by making permanent Tax Cuts and Jobs Act which otherwise expires in 2025. In this insightful episode, America's Roundtable conversation with Gerard Gibert centers on: ✅ President Donald J. Trump's first week as America's 47th president and his administration's key priorities ✅ A bold tax reform statement ✅ Saudi Arabia's $600 billion pledge to invest in America's economy ✅ President Trump's executive order to ensure U.S. global leadership in artificial intelligence In 1986, Gerard Gibert founded Venture Technologies, a technology and cloud services provider. As CEO of Venture, Gibert engineered numerous mergers and acquisitions of strategic targets, catapulting Venture to national prominence as a technology solutions provider. Initially funded at $189,000, Venture was sold for $92 million in 2019. Mr. Gibert serves on a variety of boards dedicated to growing Mississippi's economy. That list includes the Madison County Economic Development Authority, Madison County Business League and Foundation, Innovate Mississippi, Empower Mississippi, and the Mississippi Lottery Corporation. Gerard Gibert also serves on the executive advisory board of International Leaders Summit and is co-chair of the U.S.-based think tank's American Leadership Task Force advancing principled reforms. americasrt.com (https://americasrt.com/) https://ileaderssummit.org/ | https://jerusalemleaderssummit.com/ America's Roundtable on Apple Podcasts: https://podcasts.apple.com/us/podcast/americas-roundtable/id1518878472 X: @grgibert @ileaderssummit @NatashaSrdoc @JoelAnandUSA @supertalk America's Roundtable is co-hosted by Natasha Srdoc and Joel Anand Samy, co-founders of International Leaders Summit and the Jerusalem Leaders Summit. America's Roundtable (https://americasrt.com/) radio program - a strategic initiative of International Leaders Summit, focuses on America's economy, healthcare reform, rule of law, security and trade, and its strategic partnership with rule of law nations around the world. The radio program features high-ranking US administration officials, cabinet members, members of Congress, state government officials, distinguished diplomats, business and media leaders and influential thinkers from around the world. Tune into America's Roundtable Radio program from Washington, DC via live streaming on Saturday mornings via 65 radio stations at 7:30 A.M. (ET) on Lanser Broadcasting Corporation covering the Michigan and the Midwest market, and at 7:30 A.M. (CT) on SuperTalk Mississippi — SuperTalk.FM reaching listeners in every county within the State of Mississippi, and neighboring states in the South including Alabama, Arkansas, Louisiana and Tennessee. Listen to America's Roundtable on digital platforms including Apple Podcasts, Spotify, Amazon, Google and other key online platforms. Listen live, Saturdays at 7:30 A.M. (CT) on SuperTalk | https://www.supertalk.fm

You hear the same old rhetoric every election cycle. "The rich aren't paying their fair share of taxes". A recent article in Forbes by John Goodman challenges this notion by asking questions no one in the media seems willing to ask. Goodman illustrates just how broken our income tax system is and AFFT president Steve Hayes provides the solution--the FAIRtax.

AP correspondent Julie Walker reports on why both presidential candidates proposals to end federal taxes on tips would be difficult to enact.

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The Supreme Court hasn't closed the door entirely on taxes on unrealized income, but the door isn't exactly open. Thomas A. Berry explains the court's decision in Moore v. United States. Hosted on Acast. See acast.com/privacy for more information.

The majority of legal battles Native people have with the state and federal governments is over taxation!

Welcome back to Passive Income Pilots! In this episode we delve into essential tax strategies tailored specifically for pilots. With the expertise of Toby Mathis from Anderson Advisors, we explore five key ways you can reduce your tax liability effectively. Toby brings his depth of tax knowledge directly to our pilot audience, discussing everything from maximizing deductions to strategic asset management. Additionally, we'll cover an intriguing opportunity for pilots interested in aircraft ownership—how purchasing an airplane can not only serve personal and professional needs but also offer significant tax advantages. If you're looking to navigate the complexities of taxes with ease and make informed decisions that could save you thousands, this episode is your must-listen guide.Timestamped Show Notes:(00:00) - Introduction to the episode with hosts Tait and Ryan.(01:29) - Introduction of the guest, Toby Mathis, and discussion on tax and legal workshops.(04:02) - Explanation of tax brackets and progressive tax systems.(05:13) - Discussion on aircraft ownership, benefits, and deductions related to taxes.(10:24) - Detailed analysis of leasing aircraft and tax implications.(17:15) - Strategies for pilots to utilize aircraft ownership for tax advantages.(23:46) - Overview of various tax reduction strategies and charitable giving.(28:36) - Introduction to tax and legal workshops offered by Toby's firm.(32:02) - Five top tax tips for pilots including HSA benefits.(44:58) - Discussion on solo 401k benefits and other tax-deferred accounts.(53:15) - Conclusion and thanks to guest Toby Mathis.Resources Mentioned:Tax & Asset Protection WorkshopDallas Conference June 27-29Remember to subscribe for more insights at PassiveIncomePilots.com!Join our growing community on FacebookCheck us out on Instagram @PassiveIncomePilotsFollow us on X @IncomePilotsGet our updates on LinkedInHave questions or want to discuss this episode? Contact us at ask@passiveincomepilots.com See you on the next one!Legal DisclaimerThe content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions. The hosts, Tait Duryea and Ryan Gibson, do not necessarily endorse the views of the guests featured on the podcast, nor have the guests been comprehensively vetted by the hosts. Under no circumstances should any material presented in this podcast be used or considered as an offer to sell, or a solicitation of any offer to buy, an interest in any investment. Any potential offer or solicitation will be made exclusively through a Confidential Private Offering Memorandum related to the specific investment. Access to detailed information about the investments discussed is restricted to individuals who qualify as accredited investors under the Securities Act of 1933, as amended. Listeners are responsible for their own investment decisions and are encouraged to seek professional advice before investing.

In a recent study by Americans for Tax Fairness and the Institute for Policy Studies published recently, 35 major U.S. corporations paid less in federal income tax between 2018 and […] The post Corporate Execs Earn More than their Companies Pay in Federal Taxes appeared first on WORT-FM 89.9.

Minnesota's politicians hope the IRS will reverse their decision to tax rebate checks. Republican Congressman Peter Stauber met Friday with the head of the Internal Revenue Service, and DFL Gov. Tim Walz — who pushed for the rebate checks — is also lobbying the Biden administration in hopes of getting the IRS to change its mind.  That story and more in today's evening update from MPR News. Hosted by Feven Gerezgiher. Music by Gary Meister.

Sally Gimon who helps Affiliate Marketers, Real Estate Investors, people in Crypto and Stock Market Investors, and people in the NFT world to save 70% on their Federal Taxes and helps Investors no longer pay Capital Gains, Interest Income, Dividend Income, Rental Income, and Royalties ever again! Here's where to find more:www.TheTrusIsYou.comhttps://www.linkedin.com/in/sallygimonhttps://www.youtube.com/channel/UCmvBniNpH2kQI3vMGcpVjAghttps://www.facebook.com/SallyGimonhttps://www.tiktok.com/@spendthrifttrust___________________________________________________________Welcome to The Unforget Yourself Show where we use the power of woo and the proof of science to help you identify your blind spots, and get over your own bullshit so that you can do the fucking thing you ACTUALLY want to do!We're Mark and Katie, the founders of Unforget Yourself and the creators of the Unforget Yourself System and on this podcast, we're here to share REAL conversations about what goes on inside the heart and minds of those brave and crazy enough to start their own business. From the accidental entrepreneur to the laser-focused CEO, we find out how they got to where they are today, not by hearing the go-to story of their success, but talking about how we all have our own BS to deal with and it's through facing ourselves that we find a way to do the fucking thing.Along the way, we hope to show you that YOU are the most important asset in your business (and your life - duh!). Being a business owner is tough! With vulnerability and humor, we get to the real story behind their success and show you that you're not alone._____________________Find all our links to all the things like the socials, how to work with us and how to apply to be on the podcast here: https://linktr.ee/unforgetyourself

Sally worked with investors and 1099 Income Earners save Federal Taxes with the Spendthrift Trust. The Spendthrift Trust is legal, patent, and in the IRS Tax Code 643 (B).Main point:Is this legal?Who uese it?Why have you never heard of it?Connect with Sally Gimon: Free PDF and set an appoitment at www.TheTrustIsYou.cominfo@thetrustisyou.comhttps://www.facebook.com/SallyGimonhttps://www.instagram.com/sallygimon/https://www.linkedin.com/in/sallygimon/https://www.tiktok.com/@spendthrifttrusthttps://twitter.com/GimonSallyhttps://www.youtube.com/channel/UCmvBniNpH2kQI3vMGcpVjAghttps://www.thetrustisyou.com/Podcast-Stop Paying Capital Gains, NOW!

oin Sally, a seasoned real estate investor and former insurance agent, in “Spendthrift Trust Secrets: Unleashing Tax Savings” as she unveils groundbreaking strategies to save federal taxes and secure your financial future. Sally's transformative journey began when her mother fell ill in October 2018, prompting her to make a quick change in her life. Leveraging her 20 years of insurance experience, Sally now shares her valuable insights weekly in her real estate group and on Win, Win Women TV. In July 2020, Sally made a smart investment move by purchasing a Bank Owned Property for $20,000, anticipating an auction price of $50,000 once Covid restrictions were lifted. Aware of the potential capital gains tax implications, she embarked on a quest to discover how the rich paid so little in taxes. This quest led her to the remarkable world of Business and Beneficial Spendthrift Trusts. In “Spendthrift Trust Secrets: Unleashing Tax Savings,” Sally reveals the powerful benefits of these trusts and how they can revolutionize your tax strategy. Gain insights into saving on federal taxes while ensuring the privacy of your financial information. Discover the key to protecting your assets from potential legal judgments. In this show, JR Spear, along with his guest, Sally Gimon will discuss “Spendthrift Trust Secrets: Unleashing Tax Savings. Sally, a motivated real estate investor, found her passion after her mother's illness in 2018. With 20 years as an insurance agent, she now shares her expertise weekly and on Win, Win Women TV. In 2020, she bought a Bank Owned Property for $20,000, aiming to auction it for $50,000 post-Covid. Inspired by tax-saving strategies, Sally explored Business and Beneficial Spendthrift Trusts. Her story highlights resilience, adaptability, and a commitment to success in real estate. Connect with Business Leaders Network www.businessleadersnetworking.com    grow@businessleadersnetworking.com

The drama and confusion around Employee Retention Credits continues into 2023 with new guidance creating more questions than answers. In this episode, Roger and Annie provide an update on the latest ERC developments, including new problems facing practitioners and small business owners as well as lingering unresolved issues around amending returns, repayments, and fraud. Join Roger and Annie as they attempt to make sense of the ongoing ERC mess in 2023.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Connect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of the Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only. (00:00) - Welcome everyone to another episode of Federal Tax Updates: We have some ERC updates (07:33) - You can still apply for the ERC credit (13:07) - If you don't do ERC make sure your clients are working with a legit company (19:20) - What if a small business got some ERC money that they probably shouldn't have? (31:03) - What qualifies as "Supply Chain Interruption?" (31:59) - Roger gives Annie a test if someone would qualify for ERC (40:31) - What should the people do if they have legitimate ERC credits? (48:06) - Key takeaways about ERC you should know today! (51:20) - Wrap up. Please subscribe so you don't miss an episode

On this episode, Roger and Annie discuss making changes to tax firms during the summer season, emphasizing the need to reflect on the current business to create a better work-life balance. They talk about examining price structure and client list, addressing estimated taxes, and offering advisory meetings to increase revenues. They also emphasize the need for tax practitioners to be proactive in addressing changes in their business.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Chapters (00:00) - Welcome to Federal Tax Updates : What Annie and Roger have been up to this summer (12:40) - Where to start changing your firm (20:54) - Some more proactive steps (28:26) - Tax advice for new business owners (43:38) - What can you do now to help yourself during next tax season? (48:50) - Changing the way you bill your clients (53:08) - Wrap up and please subscribe so you don't miss new episodes Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of the Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Taxpayer.com's Kris Sims on the latest federal government assault on Canadian consumer prices.See omnystudio.com/listener for privacy information.

Peymon Mottahedeh talks about Federal Taxes and Angela Stanton King discusses her foundation, Angies House. Send questions to DiamondandSilk@gmail.com Sponsors: Use Promo Code: DIAMOND or TRUMPWONDiamondandSilk.com1. https://DrStellaMD.com2. https://TWC.Health (Spike Protein Support)3. https://CardioMiracle.com4. https://GiveSendGo.com5. https://MyPillow.com/TrumpWon6. https://TheDrArdisShow.com/shop-all/7. https://www.Curativabay.com/?aff=18. http://MaskDerma.com9. https://www.KattsRemedies.com/shop/ ?aff=3 Follow Diamond and Silk on https://FrankSocial.com/u/DiamondandSilk See Us On: LINDELL TV, CTVA.TV, RSBN, GETTR LIVE, RUMBLE LIVE, FRANKSPEECHSee omnystudio.com/listener for privacy information.

The tax code can be a labyrinth of confusion and complexity, particularly for those new to the world of business transactions. That's why we've dedicated this episode to the Section 1202 Exclusion, a potentially significant tax advantage tied to the QSBS. We begin with the basics - what exactly is QSBS and how the Section 1202 Exclusion applies to it. Navigating through the critical elements, we discuss how you can qualify for this advantageous tax provision and the potential benefits it can provide to your business transaction. From ownership duration to business type to the original issuance, we shed light on the qualifying conditions in a way that is accessible to all, regardless of financial background. We also delve into the potential tax savings that can be achieved under this exclusion and how it can impact both the seller and the buyer. With expert insights and practical advice, we take the complexity out of tax planning for your business transaction. Whether you're on the brink of selling your first business, contemplating purchasing a qualifying business, or exploring potential tax benefits for your transaction, this episode is a treasure trove of knowledge. Tune in and empower yourself with the financial savvy to leverage the Section 1202 Exclusion to your advantage. As always, if you have any further questions, feel free to reach out to us via call/text at 516-417-4941 or email us at mshah@msllc.com ! Learn more about your ad choices. Visit megaphone.fm/adchoices

Peymon Mottahedeh talks about NOT paying Federal taxes for 30 years and how he did it. Sponsors: Use Promo Code: DIAMOND or TRUMPWON1. https://TWC.Health (Spike Protein Support)2. https://CardioMiracle.com3. http://MaskDerma.com4. https://GiveSendGo.com5. https://MyPillow.com/TrumpWon6. https://TheDrArdisShow.com/shop-all/7. https://www.Curativabay.com/?aff=18. https://DrStellaMD.com9. https://www.KattsRemedies.com/shop/?aff=3 Follow Diamond and Silk on https://FrankSocial.com/u/DiamondandSilkhttps://TruthSocial.com/@DiamondandSilk See Us On: LINDELL TV, CTVA.TV, RSBN, GETTR LIVE, RUMBLE LIVE, FRANKSPEECHSee omnystudio.com/listener for privacy information.

In our last episode, we discussed the importance of a portfolio's asset allocation, and, how that relates to “Reducing Your Tax Bill”. In part two of this episode, we are joined once again by Symmetry's Managing Director of Research and Investments, Philip McDonald, CFA, CAAIA & Glenn Shirley, CAIA, Head of Investor Relations for Quantinno Capital Management, to discuss the methods by which you can “re-charge that tax benefit”. If you have any questions or would like more information, reach out to us at https://symmetrypartners.com/contact-us/ You can also find us on Facebook, YouTube, Twitter, and LinkedIn. As always, we remain invested in your goals. Symmetry Partners, LLC, is an investment advisory firm registered with the Securities and Exchange Commission. The firm only transacts business in states where it is properly registered, excluded or exempted from registration requirements. Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. No one should assume that future performance of any specific investment, investment strategy, product or non-investment related content made reference to directly or indirectly in this material will be profitable. As with any investment strategy, there is the possibility of profitability as well as loss. Due to various factors, including changing market conditions and/or applicable laws, the content may not be reflective of current opinions or positions.   Please note the material is provided for educational and background use only. Moreover, you should not assume that any discussion or information contained in this material serves as the receipt of, or as a substitute for, personalized investment advice.   00:00:01.800 --> 00:00:07.600 Hello listeners, 1 00:00:07.600 --> 00:00:10.900  welcome back to part two of our conversation on 2 00:00:10.900 --> 00:00:13.500  investing in taxes. Once again, I'm joined by Glenn 3 00:00:13.500 --> 00:00:16.500  Shirley from quantino and Phil McDonald from symmetry. 4 00:00:16.500 --> 00:00:19.100  Thanks gentlemen for joining us again, whether or not the market goes up 5 00:00:19.100 --> 00:00:22.800  or down when you have the long short overlay you have 6 00:00:22.800 --> 00:00:26.700  opportunities to to find losers losses. 7 00:00:26.700 --> 00:00:29.700  If you will to reach hard that tax benefit, 8 00:00:29.700 --> 00:00:32.400  it's some what counterintuitive right we're looking 9 00:00:32.400 --> 00:00:35.300  for Securities that have gone down in 10 00:00:35.300 --> 00:00:38.100  value, but I think the truth of the matter is is that when you 11 00:00:38.100 --> 00:00:41.600  own an ETF that's tracking an index or mutual 12 00:00:41.600 --> 00:00:44.300  fund that's tracking index. The reality is Phil 13 00:00:44.300 --> 00:00:47.600  you do own those losers. You just might not see them right? They're always 14 00:00:47.600 --> 00:00:50.200  that's right. Yeah looking at and that's 15 00:00:50.200 --> 00:00:53.300  a great Point looking at say in S&P 500 or 16 00:00:53.300 --> 00:00:57.300  Russell 1000 ETF. You you see one number, 17 00:00:56.300 --> 00:00:59.300  you know one one price 18 00:00:59.300 --> 00:01:01.500  one return but behind 19 00:01:02.300 --> 00:01:06.100 You're likely going to have dozens and dozens of positions 20 00:01:05.100 --> 00:01:08.200  that throughout the year and at year end 21 00:01:08.200 --> 00:01:11.900  are in or in a lost position. So in 22 00:01:11.900 --> 00:01:14.400  direct indexing, it just kind of breaks down that wrapper and 23 00:01:14.400 --> 00:01:17.700  you hold, you know hundreds of Securities directly. So 24 00:01:17.700 --> 00:01:20.800  you kind of see those a little bit more clearly sure and 25 00:01:20.800 --> 00:01:24.400  we've seen that in recent years right with some of these tech stocks 26 00:01:24.400 --> 00:01:27.400  the Fang stocks if you will Facebook Apple Amazon Netflix Google 27 00:01:27.700 --> 00:01:30.200  Etc. They were driving the returns of the S&P and there 28 00:01:30.200 --> 00:01:33.400  was a vast majority of those securities within the S&P that 29 00:01:33.400 --> 00:01:36.300  were in the red and by unwrapping it you can 30 00:01:36.300 --> 00:01:39.600  take advantage of those you still run into the issue of 31 00:01:39.600 --> 00:01:42.700  the portfolio seizing and what 32 00:01:42.700 --> 00:01:45.400  I mean by that is what we've been talking about having that portfolio 33 00:01:45.400 --> 00:01:48.000  get to a point where you don't have any room to make 34 00:01:48.300 --> 00:01:51.600  any trades without incurring some sort of tax consequence, but I 35 00:01:51.600 --> 00:01:54.900  think that's where the 1330 comes in right Glenn you're 36 00:01:54.900 --> 00:01:57.300  able to apply that strategy on 37 00:01:57.300 --> 00:02:00.700  top of an existing portfolio generate losses in 38 00:02:00.700 --> 00:02:02.200  any Market environment. And so 39 00:02:02.200 --> 00:02:05.100 So I think that that's a really interesting thing Glenn. Can you talk a little bit? 40 00:02:05.100 --> 00:02:08.200  I didn't mean to interrupt you, but could you talk a little bit about what is 41 00:02:08.200 --> 00:02:11.400  what happens with the risk exposure by putting that overlay on 42 00:02:11.400 --> 00:02:14.500  right investor with that 100 dollars 30 long 43 00:02:14.500 --> 00:02:17.100  30 short what what happens to the 44 00:02:17.100 --> 00:02:20.600  risk characters of that particular account? Sure. Yeah great 45 00:02:20.600 --> 00:02:23.300  question Tom. So if you look at if you just 46 00:02:23.300 --> 00:02:26.900  put on a 30% long 30% short 47 00:02:26.900 --> 00:02:29.300  portfolio. And you said what is the risk of 48 00:02:29.300 --> 00:02:32.500  that portfolio in isolation by itself? The answer 49 00:02:32.500 --> 00:02:36.000  to that is about one percent and that 50 00:02:35.100 --> 00:02:38.300  could be there be you know, standard deviation how much it's 51 00:02:38.300 --> 00:02:42.100  going to move around or it could be if you're if you're looking at that benchmarked 52 00:02:41.100 --> 00:02:44.200  to a you know, an index like 53 00:02:44.200 --> 00:02:47.400  the S&P 500 that would be one percent tracking here. So pretty 54 00:02:47.400 --> 00:02:50.500  modest, you know, a lot of active Equity strategies have tracking 55 00:02:50.500 --> 00:02:53.300  air easily of two percent or more. So we're 56 00:02:53.300 --> 00:02:56.300  not adding a lot of of risk just via that long 57 00:02:56.300 --> 00:02:59.500  short extension, but in reality as I mentioned you have 58 00:02:59.500 --> 00:03:01.600  these kind of Legacy accounts that 59 00:03:02.200 --> 00:03:05.700 Some elevated levels of risk that long short extension is 60 00:03:05.700 --> 00:03:08.200  a tool to reduce that risk. So even though 61 00:03:08.200 --> 00:03:11.400  you have a 1% risk in 62 00:03:11.400 --> 00:03:14.300  that long short extension in isolation. If you use that 63 00:03:14.300 --> 00:03:17.400  long short extension efficiently to reduce 64 00:03:17.400 --> 00:03:20.600  the total risk of the portfolio, then oftentimes we 65 00:03:20.600 --> 00:03:23.900  can also we can actually reduce kind of the total tracking 66 00:03:23.900 --> 00:03:26.400  error or risk versus The Benchmark of a 67 00:03:26.400 --> 00:03:29.200  tax less harvesting strategy often we can at least 68 00:03:29.200 --> 00:03:32.400  keep it the same. So when you look at a quantino kind 69 00:03:32.400 --> 00:03:35.900  of 130 30 tax loss harvesting account tracking errors 70 00:03:35.900 --> 00:03:38.400  typically one and a half percent on average 71 00:03:38.400 --> 00:03:41.400  and that's very very similar to what of 72 00:03:41.400 --> 00:03:44.300  what a clients are probably experiencing in their long only text less 73 00:03:44.300 --> 00:03:47.100  harvesting accounts as well. So just to reiterate what you're 74 00:03:47.100 --> 00:03:50.400  saying by applying the the 1330 extension to 75 00:03:50.400 --> 00:03:53.700  a portfolio the clients risk exposures still that 76 00:03:53.700 --> 00:03:56.300  principle investment is what I'm hearing you say, 77 00:03:56.300 --> 00:03:59.400  however, I think what I think a really really strong 78 00:03:59.400 --> 00:04:01.700  point is that it's not necessarily 79 00:04:02.200 --> 00:04:05.900 the risk by putting the overlay but it actually can be a risk mitigator Phil 80 00:04:05.900 --> 00:04:09.200  you and I have run across these many many times where investors 81 00:04:08.200 --> 00:04:11.600  come to us and we look at their existing Holdings 82 00:04:11.600 --> 00:04:14.200  and we're working on a Case right now 83 00:04:14.200 --> 00:04:17.600  where the investor who probably should 84 00:04:17.600 --> 00:04:20.500  have a balanced portfolio between Brawley Diversified 85 00:04:20.500 --> 00:04:21.600  stocks and bonds. 86 00:04:22.200 --> 00:04:25.900 Is stuck in a single stock position that they 87 00:04:25.900 --> 00:04:28.200  can't do anything with because of the 88 00:04:28.200 --> 00:04:31.200  fact that it's it's got such a low cost basis if 89 00:04:31.200 --> 00:04:34.600  they were to sell that security. They would be looking at some significant. 90 00:04:35.400 --> 00:04:38.400 Tax consequences, but only a single 91 00:04:38.400 --> 00:04:41.300  stock is a real risky Endeavor. Oh, no question, 92 00:04:41.300 --> 00:04:41.800  and I think 93 00:04:43.300 --> 00:04:46.400 This is such an incredibly powerful benefit of this 94 00:04:46.400 --> 00:04:49.600  strategy. And I think it it sometimes is you know 95 00:04:49.600 --> 00:04:52.600  mentioned second after the the tax Alpha 96 00:04:52.600 --> 00:04:55.300  and hey, you can keep more of what you earn but this is so 97 00:04:55.300 --> 00:04:57.100  incredibly powerful, you know, thinking of 98 00:04:58.200 --> 00:05:01.300 Really sad examples through time like Enron, you know things went 99 00:05:01.300 --> 00:05:04.400  very bad for people who held most of their company 100 00:05:04.400 --> 00:05:07.200  stock a lot of incentive plans. These 101 00:05:07.200 --> 00:05:10.400  days will give employees options and shares and 102 00:05:10.400 --> 00:05:13.000  all that. So this is an issue or a lot 103 00:05:13.500 --> 00:05:16.700  of investors and I think this solution really is, you know virtuous and 104 00:05:16.700 --> 00:05:19.400  really helping them in their Financial Health and just to 105 00:05:19.400 --> 00:05:22.600  maybe put a finer point on it and at the 106 00:05:22.600 --> 00:05:25.900  risk of being a little repetitive, you know, if you own a 107 00:05:25.900 --> 00:05:29.200  large amount of your, you know, large amount of your financial wealth 108 00:05:28.200 --> 00:05:31.600  is in an oil stock or a 109 00:05:31.600 --> 00:05:32.100  tech stock. 110 00:05:32.700 --> 00:05:35.800 Immediately in putting on the 13030 strategy 111 00:05:35.800 --> 00:05:38.400  the the 30 extension the 112 00:05:38.400 --> 00:05:40.000  30 more long can hold. 113 00:05:40.700 --> 00:05:42.900 Every other industry except that one you hold. 114 00:05:43.500 --> 00:05:46.900 Imagine that diversification and then the short can reduce 115 00:05:46.900 --> 00:05:50.000  that exposure to that one industry. So overnight in 116 00:05:49.500 --> 00:05:52.400  what in in the first, you know 117 00:05:52.400 --> 00:05:55.700  day of transactions you go from hey, I 118 00:05:55.700 --> 00:05:58.800  might end up like Enron or wow. My my 119 00:05:58.800 --> 00:06:01.400  financial wealth is gonna ride up and down with 120 00:06:01.400 --> 00:06:04.900  the price of crude oil or how Google does and 121 00:06:04.900 --> 00:06:07.400  immediately you're getting more 122 00:06:07.400 --> 00:06:10.000  of a diversified Market portfolio. Even if 123 00:06:10.200 --> 00:06:13.900  you're just shooting toward maybe an S&P 500 Index. It's immediately 124 00:06:13.900 --> 00:06:16.100  beneficial Glen. I don't know if you'd add 125 00:06:16.100 --> 00:06:20.400  anything to that but I really find that as you know, powerful benefit 126 00:06:19.400 --> 00:06:22.400  to the end investor. Yeah, the 127 00:06:22.400 --> 00:06:25.900  your correct fell the deals exchange solution that 128 00:06:25.900 --> 00:06:28.300  quantino offers is really a use case 129 00:06:28.300 --> 00:06:31.400  that came about from client feedback. We're fortunate to 130 00:06:31.400 --> 00:06:34.400  work with a lot of family offices. These are very wealthy families that 131 00:06:34.400 --> 00:06:37.500  have concentration in their portfolio. 132 00:06:37.500 --> 00:06:40.300  They built wealth via service to a public company or 133 00:06:40.300 --> 00:06:43.400  investing in a company that went public and eventually 134 00:06:43.400 --> 00:06:46.000 They want to turn the corner from you know, 135 00:06:46.300 --> 00:06:50.600  this this wealth that has been built by that concentration turning 136 00:06:49.600 --> 00:06:52.400  the corner toward wealth preservation and that 137 00:06:52.400 --> 00:06:55.500  means diversification. So how do we do that in a tax efficient manner? 138 00:06:55.500 --> 00:06:58.800  There's exchange funds that we you 139 00:06:58.800 --> 00:07:01.500  know that are really an option for very wealthy families, but 140 00:07:01.500 --> 00:07:05.200  really not for clients at scale. They're multi-million 141 00:07:04.200 --> 00:07:07.200  dollar minimums their private 142 00:07:07.200 --> 00:07:10.500  Fund Solutions and you know, you're vestly 143 00:07:10.500 --> 00:07:13.800  investing in a hedge fund that's gonna take seven years to diversify 144 00:07:13.800 --> 00:07:15.500  and they're very expensive. So we always knew 145 00:07:16.600 --> 00:07:19.800 that if we could use our capabilities to help clients diversify 146 00:07:19.800 --> 00:07:22.100  concentrated positions to be a pretty powerful thing and 147 00:07:22.100 --> 00:07:25.600  that 30 by 30 extensions the the way we do that so, you 148 00:07:25.600 --> 00:07:27.100  know, we put that long short extension on 149 00:07:27.700 --> 00:07:30.300 The extension generates tax benefits along the 150 00:07:30.300 --> 00:07:33.100  way we can use that extension to reduce the risk of 151 00:07:33.100 --> 00:07:36.200  that concentrated position. You're totally right there. And then 152 00:07:36.200 --> 00:07:39.300  over time as we generate those consistent tax benefits 153 00:07:39.300 --> 00:07:42.300  that gives us a mechanism to sell 154 00:07:42.300 --> 00:07:45.900  down that concentrated position, but we're always matching 155 00:07:45.900 --> 00:07:48.300  the tax benefits that we generate with the 156 00:07:48.300 --> 00:07:51.100  capital gains that we are realizing by selling down that 157 00:07:51.100 --> 00:07:51.400  position. 158 00:07:52.400 --> 00:07:55.700 And then once we sell we're rebalancing into a 159 00:07:55.700 --> 00:07:58.300  diversified index of the advisor and the client's Choice 160 00:07:58.300 --> 00:08:01.900  could be S&P 500. It could be Global stocks really whatever 161 00:08:01.900 --> 00:08:04.700  the asset allocation decision ends up 162 00:08:04.700 --> 00:08:07.400  being so yeah a typical even low basis very 163 00:08:07.400 --> 00:08:10.500  low basis position 20% cost basis. We 164 00:08:10.500 --> 00:08:13.400  can help diversify in a tax efficient manner 165 00:08:13.400 --> 00:08:15.100  in around seven years. 166 00:08:16.300 --> 00:08:19.100 That's very cool. It's a very clever strategy. I mean 167 00:08:19.100 --> 00:08:23.200  we're talking about tax benefits, but what we're really talking about is 168 00:08:22.200 --> 00:08:24.500  transitioning a 169 00:08:25.300 --> 00:08:28.900 Well, I would consider a concentrate risky portfolio very 170 00:08:28.900 --> 00:08:31.200  risky at times into something that 171 00:08:31.200 --> 00:08:34.700  is more suitable for that investor more Diversified but 172 00:08:34.700 --> 00:08:37.600  doing it in a way that they don't 173 00:08:37.600 --> 00:08:40.900  have to feel the the pain of unwinding 174 00:08:40.900 --> 00:08:44.000  those positions that might have some very significant embedded 175 00:08:43.300 --> 00:08:46.600  gains. You know it our 176 00:08:46.600 --> 00:08:47.500  industry we get 177 00:08:49.100 --> 00:08:52.000 picked on I guess for being very jargony right a lot 178 00:08:52.600 --> 00:08:55.100  of jargon and terms that a lot of folks that 179 00:08:55.100 --> 00:08:58.400  are not in this industry on a daily basis and 180 00:08:58.400 --> 00:09:02.000  we throw out the term tax Alpha quite a bit and 181 00:09:01.300 --> 00:09:04.300  I'll throw this question out to both the a Phil and Glenn. 182 00:09:04.300 --> 00:09:07.700  Can we just Define what tax Alpha is 183 00:09:07.700 --> 00:09:10.400  and then can you quantify it? Sure. Yeah. Yeah 184 00:09:10.400 --> 00:09:13.300  to us. I think of tax Alpha is 185 00:09:13.300 --> 00:09:13.900  tax savings. 186 00:09:14.900 --> 00:09:18.400 So, you know if if quantino generates 187 00:09:17.400 --> 00:09:20.900  a dollar of short-term 188 00:09:20.900 --> 00:09:22.200  capital loss. 189 00:09:22.700 --> 00:09:25.700 Then if you have a short-term gain 190 00:09:25.700 --> 00:09:28.500  a dollar of short-term gains, that saves you 191 00:09:28.500 --> 00:09:32.200  40.8 percent. So I've saved the client 40 cents 192 00:09:31.200 --> 00:09:34.900  41 cents in tax. If 193 00:09:34.900 --> 00:09:37.400  I'm using that short-term law stuff set long 194 00:09:37.400 --> 00:09:41.300  term gains that that long-term gains rate essentially 23% 195 00:09:40.300 --> 00:09:43.400  at the federal level. So I've 196 00:09:43.400 --> 00:09:46.800  saved clients, you know, 24 cents 197 00:09:46.800 --> 00:09:49.000  on that dollar of a capital loss. 198 00:09:49.900 --> 00:09:52.700 So if I can consistently generate Capital losses 199 00:09:52.700 --> 00:09:55.700  if quantino can consistently do that. We're letting 200 00:09:55.700 --> 00:09:58.500  clients offset the capital gains 201 00:09:58.500 --> 00:09:59.500  that they have in their portfolio. 202 00:10:00.100 --> 00:10:03.600 and they're just keeping more of the return from those capital gains 203 00:10:03.600 --> 00:10:06.200  year to year and those capital gains from can come from a lot of different, 204 00:10:06.200 --> 00:10:08.500  you know Avenues it could be 205 00:10:09.300 --> 00:10:12.300 Capital gains distributions from Mutual Funds. It could 206 00:10:12.300 --> 00:10:15.700  be long-term gains realized from rebalancing your portfolio 207 00:10:15.200 --> 00:10:19.000  Etc. So to me tax Alpha 208 00:10:18.700 --> 00:10:21.200  is keeping more of that return in the 209 00:10:21.200 --> 00:10:24.400  client's pocket paying less in capital gains and using those 210 00:10:24.400 --> 00:10:27.800  Capital losses as a vehicle to do that great. 211 00:10:27.800 --> 00:10:30.500  That's a that's a very eloquent definition of 212 00:10:30.500 --> 00:10:33.300  taxol. Do you care to add that? Yeah. I I like that 213 00:10:33.300 --> 00:10:36.100  definition as well. Yeah. One thing I'd say is 214 00:10:36.100 --> 00:10:40.000  that I think there's again pretty broad agreement 215 00:10:39.300 --> 00:10:42.700  that long only tax loss harvesting 216 00:10:42.700 --> 00:10:45.300  does have a benefit to the portfolio 217 00:10:45.300 --> 00:10:48.500  and it might be, you know one to two percent maybe maybe 218 00:10:48.500 --> 00:10:51.500  two percent on you know, really good implementations call 219 00:10:51.500 --> 00:10:54.400  it one percent. But again that has a 220 00:10:54.400 --> 00:10:57.600  horizon that's gonna likely track down as your portfolio 221 00:10:57.600 --> 00:11:00.300  ossifies seizes up turns into 222 00:11:00.300 --> 00:11:03.600  our favorite word. No, you know, 223 00:11:03.600 --> 00:11:06.400  nothing with unrealized gains. So, you know, 224 00:11:06.400 --> 00:11:09.100  you're talking 1% dish in 225 00:11:09.700 --> 00:11:12.600 Long only tax less harvesting type of tax Alpha that 226 00:11:12.600 --> 00:11:15.300  that is going to go away in a handful 227 00:11:15.300 --> 00:11:18.700  of years, right? Thank you for that. One of 228 00:11:18.700 --> 00:11:21.800  the the questions and this is gonna go really to 229 00:11:21.800 --> 00:11:24.200  investment vehicle more so than anything else. I've heard 230 00:11:24.200 --> 00:11:27.400  investors say like 2022 for instance. 231 00:11:28.200 --> 00:11:31.400 Horrible, no good very bad year for investors Equity fixed 232 00:11:31.400 --> 00:11:35.100  income both down investors who hold actively 233 00:11:34.100 --> 00:11:36.800  managed mutual funds. 234 00:11:37.900 --> 00:11:38.900 having negative return 235 00:11:39.900 --> 00:11:42.500 But they also got a pretty hefty tax bill 236 00:11:42.500 --> 00:11:45.600  in some scenarios right capital gains distributions in 237 00:11:45.600 --> 00:11:48.500  December. So Phil when investors 238 00:11:48.500 --> 00:11:51.200  are looking at open-ended mutual funds what are 239 00:11:51.200 --> 00:11:54.700  some of the things that they should be considering from a tax efficiency standpoint, 240 00:11:54.700 --> 00:11:57.700  you raise a good point and to some extent 241 00:11:57.700 --> 00:12:00.300  those examples of you know, being down and 242 00:12:00.300 --> 00:12:03.600  having a gains distribution. That's an unlucky 243 00:12:03.600 --> 00:12:06.600  combination of a handful of things right like it comes 244 00:12:06.600 --> 00:12:09.300  down to perform some fun what the 245 00:12:09.300 --> 00:12:12.400  Redemption level was how the fun generates cash 246 00:12:12.400 --> 00:12:15.900  to meet those redemptions and whether 247 00:12:15.900 --> 00:12:18.600  or not that's kind of gain realizing 248 00:12:18.600 --> 00:12:21.700  lost real estate realizing or neutral history of 249 00:12:21.700 --> 00:12:24.500  the mutual funds experience can maybe give you 250 00:12:24.500 --> 00:12:28.000  some insight into that as well as the strategy whether 251 00:12:27.300 --> 00:12:30.500  it's going to be, you know tax efficient in 252 00:12:30.500 --> 00:12:33.800  a neutral kind of scenario and whether 253 00:12:33.800 --> 00:12:36.500  it's you know, growing or stable 254 00:12:36.500 --> 00:12:39.500  as opposed to, you know, shrinking with a lot of redemptions. 255 00:12:40.400 --> 00:12:43.800 you mentioned tack sorry investment vehicles so very often 256 00:12:43.800 --> 00:12:44.200  we 257 00:12:45.100 --> 00:12:48.600 We compare mutual funds and ETFs and there are some important differences 258 00:12:48.600 --> 00:12:51.300  there on the income side, they're pretty 259 00:12:51.300 --> 00:12:55.200  even right funds all funds have to distribute income and 260 00:12:55.200 --> 00:12:58.900  they can choose the frequency with which they do that. Some of 261 00:12:58.900 --> 00:13:01.500  the differences really come into play with capital gains 262 00:13:01.500 --> 00:13:04.400  realization. Now mutual funds to me 263 00:13:04.400 --> 00:13:07.300  to Redemption they have to do that with the cash in the fund. They might 264 00:13:07.300 --> 00:13:10.500  have enough cash. They might need to sell to realize that 265 00:13:10.500 --> 00:13:13.000  to fund that Redemption and some of 266 00:13:13.100 --> 00:13:16.900  the things I mentioned earlier, you know, whether they have enough cash what 267 00:13:16.900 --> 00:13:19.300  their tax Lots look like how their age 268 00:13:19.300 --> 00:13:22.600  how they're Diversified how the fund's been performing, you know 269 00:13:22.600 --> 00:13:25.300  frequency and magnitude of redemptions all that will 270 00:13:25.300 --> 00:13:28.600  kind of impact whether or not you're end. They have realized 271 00:13:28.600 --> 00:13:31.800  game they need to distribute or not with ETFs. 272 00:13:31.800 --> 00:13:34.400  There's a little more complexity in how they're traded 273 00:13:34.400 --> 00:13:38.100  and some of the some of the capital gains efficiencies. 274 00:13:37.100 --> 00:13:40.400  So you and I can trade an ETF 275 00:13:40.400 --> 00:13:43.300  on an exchange and that doesn't involve the fund at all, you know, you 276 00:13:43.300 --> 00:13:44.900  sell share I buy a share from you and 277 00:13:45.100 --> 00:13:49.000 The fund's not involved funds doesn't need to find cash pretty 278 00:13:48.300 --> 00:13:51.400  simple. But there are some transactions that do 279 00:13:51.400 --> 00:13:54.700  involve the fund, you know, something called authorized participants help 280 00:13:54.800 --> 00:13:57.300  ETFs trade efficiently 281 00:13:57.300 --> 00:14:00.900  and sometimes they'll redeem directly with the fund the 282 00:14:00.200 --> 00:14:03.100  ETF the ETF has a choice 283 00:14:03.100 --> 00:14:06.600  to you know, redeem in kind or give Securities to that 284 00:14:06.600 --> 00:14:09.500  redeeming entity, right and in 285 00:14:09.500 --> 00:14:12.400  doing that there's no transaction. There's no realization 286 00:14:12.400 --> 00:14:15.100  of of gains and it gets 287 00:14:15.100 --> 00:14:18.400  even more interesting because that the fun can choose 288 00:14:18.400 --> 00:14:22.300  which shares to redeem out and they can often redeem 289 00:14:21.300 --> 00:14:25.000  out the lowest cost basis shares. Thereby, you 290 00:14:24.400 --> 00:14:27.700  know creating a very tax efficient fund vehicle. 291 00:14:27.700 --> 00:14:31.200  The investors still needs to pay tax on their gain 292 00:14:30.200 --> 00:14:33.800  if they sell their shares, right, but the 293 00:14:33.800 --> 00:14:36.700  fund itself can get pretty creative in 294 00:14:36.700 --> 00:14:39.300  in reducing cap games realization. So, 295 00:14:39.300 --> 00:14:42.300  you know, it depends sometimes on the strategy, you know, 296 00:14:42.300 --> 00:14:44.900  fixing strategies might not be as 297 00:14:45.100 --> 00:14:48.600 Efficient in an ETF as as Equity strategies and some 298 00:14:48.600 --> 00:14:51.200  mutual funds can certainly be very tax efficient. So, you know, 299 00:14:51.200 --> 00:14:54.300  it comes down to you know, I think education getting the 300 00:14:54.300 --> 00:14:57.200  right investment strategy and then, you know also choosing the right vehicle 301 00:14:57.200 --> 00:15:00.800  now, that's that's really interesting and we've had conversations 302 00:15:00.800 --> 00:15:03.100  on the differences between ETFs and mutual funds on 303 00:15:03.100 --> 00:15:06.300  this podcast. And what's really fascinating to me again, 304 00:15:06.300 --> 00:15:09.300  I'm gonna use the term convenient byproduct the creation of 305 00:15:09.300 --> 00:15:12.900  redemption process of an ETF isn't designed 306 00:15:12.900 --> 00:15:15.700  for tax efficiency. It's designed to 307 00:15:15.700 --> 00:15:18.200  making sure that the 308 00:15:18.200 --> 00:15:21.300  nav is equal to the underlying basket of 309 00:15:21.300 --> 00:15:24.700  stocks in that process in itself makes ETFs 310 00:15:24.700 --> 00:15:26.100  extremely tax efficient. 311 00:15:26.900 --> 00:15:29.900 So it's not the goal but it is is something 312 00:15:29.900 --> 00:15:33.700  that you get through that process, which is interesting. Okay, 313 00:15:32.700 --> 00:15:35.300  so just kind of recap here for 314 00:15:35.300 --> 00:15:36.600  our investors. 315 00:15:38.400 --> 00:15:41.100 When considering your tax status with your 316 00:15:41.100 --> 00:15:44.700  portfolios consider what we call an evidence-based 317 00:15:44.700 --> 00:15:47.400  investment philosophy Buy and Hold that 318 00:15:47.400 --> 00:15:51.700  tends to lead to not only a greater likelihood of outperformance 319 00:15:50.700 --> 00:15:53.100  by staying the course, but it 320 00:15:53.100 --> 00:15:56.500  reduces frictions reduces transactions in 321 00:15:56.500 --> 00:16:00.400  the portfolio. Thus leading to a higher level of tax efficiency consider 322 00:15:59.400 --> 00:16:03.000  the vehicles that you're using when using 323 00:16:02.300 --> 00:16:06.100  open-ended mutual funds gravitate towards 324 00:16:05.100 --> 00:16:08.400  more passively managed growing mutual 325 00:16:08.400 --> 00:16:12.000  funds ETFs certainly have tax benefits and 326 00:16:11.200 --> 00:16:14.400  for those investors that are deploying a 327 00:16:14.400 --> 00:16:17.200  direct indexing strategy. There's certainly more 328 00:16:17.200 --> 00:16:21.100  opportunities through the sheer number of names to identify losses 329 00:16:20.100 --> 00:16:23.500  to perform ongoing tax loss harvesting 330 00:16:23.500 --> 00:16:26.200  and then lastly Glenn against thanks for 331 00:16:26.200 --> 00:16:29.700  joining us adding a long short 332 00:16:29.700 --> 00:16:33.100  extension a 1:30 strategy certainly can 333 00:16:32.100 --> 00:16:36.100  help not only from a diversification standpoint, 334 00:16:35.100 --> 00:16:37.200  but also from 335 00:16:38.300 --> 00:16:42.000 Alpha generating strategy. So Glenn. 336 00:16:41.200 --> 00:16:44.300  Thank you so much for your time Phil. Thank you for joining us 337 00:16:44.300 --> 00:16:47.200  here for our listeners. Thank you for for listening to 338 00:16:47.200 --> 00:16:50.200  us. You can access this podcast and all of 339 00:16:50.200 --> 00:16:53.900  our podcasts and our series anywhere you get your podcasts and 340 00:16:53.900 --> 00:16:56.000  I look forward to our conversation next time. Thank you 341 00:16:56.200 --> 00:16:59.800  so much gentlemen, thank you. Thanks Cemetery Partners. LLC 342 00:16:59.800 --> 00:17:02.600  is an investment advisor firm registered with 343 00:17:02.600 --> 00:17:05.400  the Securities and Exchange Commission The Firm only 344 00:17:05.400 --> 00:17:08.300  transacts business in states where it is properly 345 00:17:08.300 --> 00:17:11.600  registered or excluded or Exempted from 346 00:17:11.600 --> 00:17:14.300  registration requirements registration of 347 00:17:14.300 --> 00:17:17.400  an investment advisor does not imply any specific level 348 00:17:17.400 --> 00:17:20.600  of skill or training and does not constitute an 349 00:17:20.600 --> 00:17:23.700  endorsement of the firm by the commission. No one 350 00:17:23.700 --> 00:17:27.200  should assume that future performance of any specific investment investment 351 00:17:26.200 --> 00:17:30.200  strategy product or non-investment 352 00:17:29.200 --> 00:17:32.000  related content made reference to 353 00:17:32.600 --> 00:17:35.600  directly or indirectly in this material will be profitable. 354 00:17:36.600 --> 00:17:39.100 As with any investment strategy there is the 355 00:17:39.100 --> 00:17:42.700  possibility of profitability as well as loss due 356 00:17:42.700 --> 00:17:45.400  to various factors including changing market 357 00:17:45.400 --> 00:17:47.800  conditions and/or applicable laws. 358 00:17:48.600 --> 00:17:51.700 Content may not be reflective of current opinions 359 00:17:51.700 --> 00:17:54.800  or positions. Please note the material 360 00:17:54.800 --> 00:17:57.200  is provided for educational and background use 361 00:17:57.200 --> 00:18:00.700  only moreover. You should not assume that any discussion or 362 00:18:00.700 --> 00:18:03.800  information contained in this material serves as 363 00:18:03.800 --> 00:18:06.400  the receipt of or as a substitute for 364 00:18:06.400 --> 00:18:08.900  personalized investment advice.

Part 1 -- Get Ready for a Big Surprise As You're Preparing Your Federal Taxes; Plus Much MoreSIMPLY PUT -- We Cannot Say Much of the 'Really Good Stuff' on Here That's Why We Created Paine.tv YOU CAN CONTRIBUTE TO THE SHOW BY CLICKING THIS LINK -- *** DONATE HERE *** GET the Intel that's Too Hot For Anywhere Else at P A IN E. TV CONTRIBUTE TO THE SHOW BY CLICKING THIS LINK -- *** DONATE HERE *** ...

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Casual investors understand that states approach taxation of its citizens differently and can have different approaches to raising revenue. However, in the last month, there has been a shift in the directionality of state tax policy. Seven states (including NY and CA) released aggressive (and interrelated) proposals to increase taxes. Some of these proposals center around forms of the controversial “wealth tax” – a tax that would raise revenue from unrealized gains. JARED WALCZAK will explore the new proposals, the likelihood of passage and their broader impact.  Jared Walczak is Vice President of State Projects at the Tax Foundation. He is the lead researcher on the annual State Business Tax Climate Index and Location Matters, and has authored or coauthored tax reform guides on Alaska, Iowa, Kansas, Louisiana, Nevada, New  York, Pennsylvania, South Carolina, West Virginia, and Wisconsin. Jared's work is regularly cited in The New York Times, The Wall Street Journal, The Washington Post, Los Angeles Times, Politico, AP, and many other prominent national and state outlets. He previously served as legislative director to a member of the Senate of Virginia and as policy director for a statewide campaign, and consulted on research and policy development for a number of candidates and elected officials. He has been recently quoted extensively on this topic in the Wall Street Journal, the New York Post, and MarketWatch. Trying to predict tax legislation can be folly. However, states are known to be the laboratory for broader national tax legislation. These state proposals can provide interesting data points on the mood of legislatures and the directionality of tax policy across the nation. It's important to know about them. Enjoy the conversation with Jared Walczak. Jared's Background  The Tax Landscape Context around Income Taxes Capital Gains Taxes Estate Taxes Wealth Taxes State Taxes vs Federal Taxes "Raising Revenue" vs "Wealth Redistribution" What is new in 2023 that has 7 states looking to raise taxes? Which states are we looking at here? California Connecticut Hawaii Illinois Maryland New York Washington What about the passage of Massachusetts' Millionaire Tax? What is the likelihood of passage? What does this tell us about the "Diverging Directionality" of State Tax Policy? Wealth taxes? We're already used to the concept of taxing unrealized gains with property taxes- Not popular- Haven't these been tried worldwide and often discarded? Administratively difficult?  Invest in valuation firms! Forced liquidations? Lower Business Valuations? Reduced Returns for Shareholders? Fairness?  Do you get a carry forward if there is a loss? Is the Wealth Tax Constitutional?  Is it a Taking? Is this a Business Climate to be Encouraged? Tax increase Directionality What do the tea leaves look like? What political points can be scored in such a divided environment? Any big crystal ball predictions here? How do we keep track of Jared and the Tax Foundation? JARED WALCZAK JARED'S WEALTH TAX ARTICLE @JaredWalczak ON TWITTER https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

Like most people, we are 'learning' about EVs - how they work, how they charge, and how to maintain.  One thing we don't think of often is the 'tax' credit that is still being quietly offered by the OEMs and and supported by the Government.It is complicated and ever changing, so we called our resident EV guy, Richard 'Buzz' Smith, the EV-angelist, for some help understanding the new changes.Some of these changes go back to 2022 with impacts on the Federal Taxes, and some of the changes take place in 2023.  These are the most recent changes, and will impact 2024 Federal Taxes, but need to be understood now for record keeping to be prepared for the next changes...and next year taxes.In our Feature segment, Konrad DeLong presents 'This Week In Auto History'.---- ----- Want more In Wheel Time Car Talk any time? In Wheel Time Car Talk is now available on iHeart Radio! Just go to iheart.com/InWheelTimeCarTalk where ever you are.----- -----Be sure to subscribe on your favorite podcast provider for the next episode of In Wheel Time Car Talk and check out our live broadcast every Saturday, 8a-11aCT simulcasting on iHeart Radio, YouTube, Facebook, Twitter, Twitch and InWheelTime.com.In Wheel Time Car Talk can be heard on you mobile device from providers such as:Apple Podcasts, Pandora Podcast, Amazon Music Podcast, Spotify, Google Podcasts, Stitcher, iHeart Radio podcast, TuneIn + Alexa, Podcast Addict, Castro, Castbox and more on your mobile device.Follow InWheelTime.com for the latest updates!Twitter: https://twitter.com/InWheelTimeInstagram: https://www.instagram.com/inwheeltime/https://www.iheart.com/live/in-wheel-time-car-talk-9327/https://www.youtube.com/inwheeltimehttps://www.Facebook.com/InWheelTimeFor more information about In Wheel Time Car Talk, email us at info@inwheeltime.comTags: In Wheel Time, automotive car talk show, car talk, Live car talk show, In Wheel Time Car Talk

James hasn't had any Federal Taxes taken out of his checks all year long! Now he has to tell his wife that they're gonna owe big time!

Dr. Dan Sutter of the Manuel Johnson Center for Political Economy hosts EconVersations, a program that explores the role of free markets in promoting prosperity through conversations with Manuel Johnson Center faculty and guests. In this episode, Dr. Sutter interviews Dr. Tim Mathews, Professor of Economics and Director of the Center for the Study of Markets and Economic Opportunity at Kennesaw State University, as they discuss How Progressive are Federal Taxes?

Email: Uncommonpodcast@outlook.comFacebook: @UncommonPODTwitter: @UncommonPC Instagram:  @dustin.duff     @Bpop80    Gettr: @DuffdbGab: @Duffdb   Clips / Material:Kid Cries after paying monopoly taxeshttps://youtu.be/VzSVRxEc6XE Tax-Nationhttps://www.archives.gov/milestone-documents/16th-amendment#:~:text=The%20financial%20requirements%20of%20the,the%20concept%20did%20not%20disappear.Pro Acthttps://www.msn.com/en-us/news/politics/bidens-pro-act-is-a-covert-tax-hike-on-77-million-americans/ar-AAWFt0i?li=BBnbfcL    

GET‌ ‌EVERY‌ ‌EPISODE‌ ‌AND‌ ‌BONUS‌ ‌CONTENT‌ ‌AT:‌ ‌‌www.patreon.com/crackpotpodcast‌ It's that time of the year when Americans are required to file their taxes. While this may sound like a fairly simple and innocuous task, leave it to the United States Government to have the most convoluted messed up system in the world. Surprised? Neither are we! And to make matters worse, corporate greed is behind all of it. Tune in to this week's show to feel a whole range of emotions you didn't know existed when it comes to filing your own taxes!

Town Square with Ernie Manouse airs at 3 p.m. CT. Tune in on 88.7FM, listen online or subscribe to the podcast. Join the discussion at 888-486-9677, questions@townsquaretalk.org or @townsquaretalk. What if you forgot to file your taxes last year? If you have a W2 and own a business, can you file both together or do you have to file each of them separately? These are just a few questions addressed in today's episode about filing for this year's tax season. A tax expert and Site Captain for the AARP Foundation gives insight and answers questions from our callers to help them through their personal and professional tax filing concerns, and offers tax preparation services free of charge at taxaide.aarp foundation.org. And as we continue to feature all that's new for the upcoming Houston performing arts scene, Houston Ballet artistic director Stanton Welch takes us on a journey into their 2022-2023 lineup that includes three world premiers.  Guests: Stanton Welch Artistic Director, Houston Ballet Max Zimmerman Tax Attorney, Site Captain for AARP Foundation Town Square with Ernie Manouse is a gathering space for the community to come together and discuss the day's most important and pressing issues. Audio from today's show will be available after 5 p.m. CT. We also offer a free podcast here, on iTunes, and other apps.

Even when federal tax laws change, do you know how the states your company has a presence in are responding? Your company's state and local tax matters can get complicated fast depending on where your business is located, where your employees are located and where your customers are located. So what should savvy companies know […] The post Beyond Federal Taxes (State and Local Considerations for Companies) appeared first on Business RadioX ®.

Even when federal tax laws change, do you know how the states your company has a presence in are responding? Your company's state and local tax matters can get complicated fast depending on where your business is located, where your employees are located and where your customers are located. So what should savvy companies know in 2022 about state and local taxes?In this episode of The Wrap, Colleen Aldridge, CPA and state and local tax expert, joins our hosts to discuss the tax landscape beyond federal tax changes and details the current landscape of state and local taxes for organizations.After listening to this episode, you'll know:How the most recent tax reform impacted the limitation on state deductionsHow pass-through entity taxes work and which companies are impactedWhat companies contemplating mergers or acquisitions should consider when it comes to state and local taxesThe story of a real-life example of a company that made state and local tax changes after an acquisitionWhat's coming next in the world of state and local taxes Resources for additional learning:Blog: What You Need to Know about Sales Tax, Nexus and Wayfair [Answers to Real Questions from Real Companies]Blog: Do You Know Where Your Remote Employees Are? (and Why It Matters)Blog: Georgia and Alabama Adopt Elective Pass-Through Entity Tax

ProPublica obtained IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing. Kim sits down with her tax accountant to get the scoop. Plus, they talk about how to use your own home and special tax credits to lower your taxes. Learn more about your ad choices. Visit megaphone.fm/adchoices

ProPublica obtained IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing. Kim sits down with her tax accountant to get the scoop. Plus, they talk about how to use your own home and special tax credits to lower your taxes. Learn more about your ad choices. Visit megaphone.fm/adchoices

#021 - Reprise: Don't Fear The High Deductible is an encore presentation of our most popular show.  Health Savings Accounts (HSAs) work with High Deductible Health Plans (HDHPs) save you the most money, period.In order to open a Health Savings Account, you must be enrolled in an eligible High Deductible Health Plan.  Most people see High Deductible and get scared away.  High Deductible Health Plans go as low as $1,400 for an  individual in 2021 and $2,800 for households with two or more.Learn more about HSA and HDHP limits for 2021Don't Pay Tax And Keep Money In Your PocketMoney deposited in a HSA account is not taxed.  Money deposited in a regular savings account (or checking or investment account) is taxed - often referred to as after tax because Uncle Sam takes his tax out of your paycheck and what is left is after tax.Learn more about Health Savings Accounts hereOur family has utilized Health Savings Accounts since they started in 2004.  I prefer Lively.Visit Lively here - I receive a nominal fee for recommending LivelyAs I always, I appreciate you very much!  Tell your family, friends, coworkers and your boss about Doxcost!Next episode we'll take another look at why you get your health insurance through your employer....