Tax laws can be so complex, and it’s super helpful to break them down like this. Understanding how different policies can impact our finances is crucial for making informed decisions.
As a tax preparer this was all great info to share with people. Since taxes impact just about everybody (keywords “just about”), I always encourage people to learn the basics for their own benefit!
This may be the best summary I've heard on this topic. Thank you. The one addition I would make would be on the capital gains part. It's not closing COMPLETELY on the position. It's by individual purchase. It may have been awkward to explain, so it's good enough; but only 99% accurate.
I recently adjusted my Roth IRA to 50% in SCHD, 25% in SCHX, and 25% in SCHG. For my Roth 401k, I went with 70% in Vanguard's S&P 500 Index, 20% in the Vanguard Growth Index, and 10% in the Vanguard International Index. My goal is to grow my $350k to over $1 million within the next three years.
Tell me about it. My 401k? Practically useless right now. I’ve got over $500k in there, but with everything going on, I’m wondering if I should just cash out and figure something else out. I’m getting closer to retirement, and the idea of relying on that fund is stressing me out.
Keep it simple, buy things you understand, take some risk but don't try to shoot the lights out. I currently have 75% SCHD and 25% ROTH IRA. Brokerage account is 40% VOO, 35% SCHD, 25% XLK. Combine balance ~$3.3m Less than 3 years until retirement.... I have about 400k in cash. My portfolio has yielded far more than I expected for my retirement. Kudos to my advisor.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
For new investors: Focus on acquiring shares in well-established, fundamentally strong companies and maintain your position as long as their performance remains robust. Avoid being swayed by market predictions or external opinions-they often create unnecessary noise and provide limited long-term value.
Achieving strong returns lies not in chasing rapid gains but in effectively managing risk relative to potential reward. Success depends on maintaining a balanced portfolio, leveraging your strategic advantages, and staying aligned with your objectives. This principle applies across the spectrum, from long-term wealth creation to short-term market strategies.
That aligns well with my approach. I've been working with a financial market expert for the past two years, and as a result, I’ve built a diversified investment portfolio valued in the six-figure range through strategic stock investments.
I consistently recommend Rebecca Lynne Buie as my top choice. She is well-known for her expertise in financial markets and has an impressive track record. I highly endorse her services.
The tricky part about long-term gains is if you are adding to your position throughout the year. The full year begins on the day of your last purchase if you want to sell it all after a year. 366 days
The holding period for each share beings on the day you purchased that share. You specify which shares you want to sell, or set it for FIFO - first in; first out. And why would you sell it all at once?
Dividend investing is my jam! I'm building wealth with a buy-and-hold strategy in my Roth account, featuring rockstars like Berkshire B stock, SCHD, and S&P 500 and total market ETFs. My taxable account is also getting in on the action, generating regular income through dividend-paying stocks. It's a winning combo that's helping me achieve my financial dreams!
Your strategy is a perfect example of a solid plan! Combining dividend stocks with a buy-and-hold approach sets you up for success.it's clear you've done your research. Yet, I still think consulting with expert advisors can take your success to the next level. They can offer valuable insights, help you mitigate risks, and optimize your strategy for even greater returns.
I agree, though some doubt financial advisors. Mine has delivered, growing my portfolio by over $1 million for the past decade through savvy diversification. Financial security is my goal, and I'm pleased with my results.
Great! mind if I look up your advisor please? only invest in my 401k through my employer as of now, but enthused about investing for my eventual retirement
I definitely share your sentiment about these firms. When I was starting out, I checked out a couple of freelance investors online, so you could do the same. I personally work with Jarrod Gabriel Sandra, and she's is widely recognized for her proficiency and expertise in the financial market. With a comprehensive knowledge of portfolio diversification, she is acknowledged as an authority in this field...
Thank you so much for the suggestion! I really needed it. I looked her up on Google and explored her website; she has an impressive background in investments. I've sent her an email, and I hope to hear back from her soon!
Brian thank you! These videos are extremely helpful. Especially since this is the first year I will be doing taxes with a substantial income. Soon it will hopefully be a substantial income as a small business. Anyways Hope you have a great holidays man!
He makes everything so easy to understand. With pictures, grapes, coloring and lettering, it’s just God send for someone like me who is just beginner in the field. It’s better than anything. 정말 감사합니다.
Thank you for this thorough video! Can you explain the tax implications from investing in index funds or ETFs in taxable brokerage accounts please…and ways to reduce taxable gains in those accounts??
You are an amazing teacher! I am binge watching these videos and my mind is completely blown that I am understanding any of this. Trust me when I say it’s because of the way you teach!
The one watch out I’ve experienced myself several times. Your tax documents can be amended by your brokerage after initial release. I never do my taxes before March 15th for this reason, I usually do them on April 1st. You’re usually safe by then.
Thanks for the info. I have a few questions : 1. When covered call is assigned, can I choose which stock is assigned? 2. Assume I have 200 shares of stock, and sold 1 covered call contract, can I decide which stock get deduction of base price?
Great video, just discovered your channel and subscribed after listening to some your stock market videos which explain things very well. Thank you so much!
They’re taxed when they DRIP back. It’s no different than receiving the dividend and you buying more of the stock. It’s a good question but it’s more of a convenience thing than a tax deferral thing.
Do the profits/losses we need to report for IRS/Taxes also include day trading and options or only stocks? Also, can we claim gains/losses on foreign stock investments like NIFTY/HKSE ?
This was an excellent video that you made, " This type of video WILL help me". Thank you for all of you hard work. Don't change the direction of the videos you make! It's not broken, don't fix it!.
Can you make video on how dividends are taxed? and how tax would look like if you invest in dividend stock overtime over the year(s) and how the taxes work in those scenarios?
Thank you for the detailed explanation. I sold $50,000 of stock from my traditional IRA account on 12/5/24. I also have a part-time income of $7,000. May I know if I would get a tax penalty because I didn't pay a tax in advance before? Thank you for letting me know.
Thanks for the information. Question, is the 3k limit on capital loss limited to stocks or is that the overall limit you can claim for the calendar year? I have other investments (property) and wanted to know how claiming stock losses would impact other investments. Thanks again
You can use all your capital losses (beyond $3k) to offset your other capital gains (whether they be from the stock market, crypto, art, properties, etc). If you have more capital losses than capital gains, then you are capped at using $3K of capital losses to offset your non-capital gain income (such as wage income, interest income, dividend income, business income). I hope that helps!
Thank you for creating this video , very educational. Could you please confirm that capital gain tax only applying to brokerage accounts not tradition IRA ?? Thank you
Your videos are super helpful. Plz keep on demystify the intricacies of trades and stocks; Can you please provide us the insightful distinction on Option vs future vs Forex exchange vs crypto Which one do you recommend for beginners ?
Hi, I love your financial videos. Keep them coming . Couple of questions for you, Q1: On the $3000 limit (loss) for taxable income deduction, if you are married and filing jointly, would the number go up?? if so how much?? Q2: If you re-invest the dividend on the same stock do you still pay taxes on the dividend for that year? Thanks
Are any of the brokerage fees deductible? Are they considered part of the costs basis when you buy the stock? Are gambling/lottery losses part of the $3k per year limit?
I absolutely love how you explain this so well. I was wondering how the taxes work. Like one year you make money on the stock market and of course you pay with money earned. And then if you lose the following year, I was wondering how that worked. I love that we can at least take it off of our taxable income. At least that is fair so that you are not only paying taxes but you can actually claim the losses. So it all balances out. And if you have lots of losses, you can get those back over time. I'm a very new investor and trying to learn as much as I can before jumping in. Thanks so much.
TurboTax Free Edition: turbotax.intuit.com/personal-taxes/online/free-edition.jsp?priorityCode=6099000538
Tax laws can be so complex, and it’s super helpful to break them down like this. Understanding how different policies can impact our finances is crucial for making informed decisions.
I love when the video thumb is of you smiling. Your channel is the greatest free education I’ve ever gotten.
I would love to see an advanced tax series about the topics mentioned at the end including tax loss harvesting
I wish I had found your channel years ago but I’m glad I found it now. Thanks for sharing your knowledge, I’ve learned so much from you!
As a tax preparer this was all great info to share with people. Since taxes impact just about everybody (keywords “just about”), I always encourage people to learn the basics for their own benefit!
Thank you BK Randy for all the support! I appreciate it so much!
This may be the best summary I've heard on this topic. Thank you. The one addition I would make would be on the capital gains part. It's not closing COMPLETELY on the position. It's by individual purchase. It may have been awkward to explain, so it's good enough; but only 99% accurate.
Yes, I didn’t want to confuse people. The 90% of people.
Can you please cover Dividends vs Royalties and Qualified vs non Qualified?
Great content!!!
I just started on webull and was stressing about taxes . Thank you I'm so much better now . Much much better😊
Thank you Brian, appreciate the graphics on screen for an easy to follow format!
Thank you for the feedback and all the support!
Great video, simple explanation of taxes that fits 90 percent of us! 😊
I recently adjusted my Roth IRA to 50% in SCHD, 25% in SCHX, and 25% in SCHG. For my Roth 401k, I went with 70% in Vanguard's S&P 500 Index, 20% in the Vanguard Growth Index, and 10% in the Vanguard International Index. My goal is to grow my $350k to over $1 million within the next three years.
Tell me about it. My 401k? Practically useless right now. I’ve got over $500k in there, but with everything going on, I’m wondering if I should just cash out and figure something else out. I’m getting closer to retirement, and the idea of relying on that fund is stressing me out.
Keep it simple, buy things you understand, take some risk but don't try to shoot the lights out. I currently have 75% SCHD and 25% ROTH IRA. Brokerage account is 40% VOO, 35% SCHD, 25% XLK. Combine balance ~$3.3m Less than 3 years until retirement.... I have about 400k in cash. My portfolio has yielded far more than I expected for my retirement. Kudos to my advisor.
Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.
CATHERINE PELICAN DIANE is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
For new investors: Focus on acquiring shares in well-established, fundamentally strong companies and maintain your position as long as their performance remains robust. Avoid being swayed by market predictions or external opinions-they often create unnecessary noise and provide limited long-term value.
Achieving strong returns lies not in chasing rapid gains but in effectively managing risk relative to potential reward. Success depends on maintaining a balanced portfolio, leveraging your strategic advantages, and staying aligned with your objectives. This principle applies across the spectrum, from long-term wealth creation to short-term market strategies.
That aligns well with my approach. I've been working with a financial market expert for the past two years, and as a result, I’ve built a diversified investment portfolio valued in the six-figure range through strategic stock investments.
Impressive can you share more info about your financial adviser?
I consistently recommend Rebecca Lynne Buie as my top choice. She is well-known for her expertise in financial markets and has an impressive track record. I highly endorse her services.
Thank you for the recommendation. I promptly researched Rebecca Lynne Buie online, found her website, and have emailed her right away.
The tricky part about long-term gains is if you are adding to your position throughout the year. The full year begins on the day of your last purchase if you want to sell it all after a year. 366 days
Wrong
You don’t need to sell it all at the same time. In fact, that’s a risky thing to do. Better to DCA out.
The holding period for each share beings on the day you purchased that share. You specify which shares you want to sell, or set it for FIFO - first in; first out. And why would you sell it all at once?
If you sell via “lots” you can get around this issue.
You have a talent for explaining things clearly and thoroughly! Thank you for you for the information and videos you share to help others.
you did an awesome job; the info is easy to understand; the length of the clip is perfect; not too long; not too short. Thanks for your time.
Excellent teacher!!! Thank you for all the information with animated descriptions. 😊
Dividend investing is my jam! I'm building wealth with a buy-and-hold strategy in my Roth account, featuring rockstars like Berkshire B stock, SCHD, and S&P 500 and total market ETFs. My taxable account is also getting in on the action, generating regular income through dividend-paying stocks. It's a winning combo that's helping me achieve my financial dreams!
Your strategy is a perfect example of a solid plan! Combining dividend stocks with a buy-and-hold approach sets you up for success.it's clear you've done your research. Yet, I still think consulting with expert advisors can take your success to the next level. They can offer valuable insights, help you mitigate risks, and optimize your strategy for even greater returns.
I agree, though some doubt financial advisors. Mine has delivered, growing my portfolio by over $1 million for the past decade through savvy diversification. Financial security is my goal, and I'm pleased with my results.
Great! mind if I look up your advisor please? only invest in my 401k through my employer as of now, but enthused about investing for my eventual retirement
I definitely share your sentiment about these firms. When I was starting out, I checked out a couple of freelance investors online, so you could do the same. I personally work with Jarrod Gabriel Sandra, and she's is widely recognized for her proficiency and expertise in the financial market. With a comprehensive knowledge of portfolio diversification, she is acknowledged as an authority in this field...
Thank you so much for the suggestion! I really needed it. I looked her up on Google and explored her website; she has an impressive background in investments. I've sent her an email, and I hope to hear back from her soon!
This is so clear and helpful. Thank you Brian. I always learn so much from your videos. Happy holiday!
Thank you for the feedback and support Shanshanlin! I appreciate it so much!
I hate taxes
Thank you for getting here 1st Trump!
@@clearvaluetax9382trump 1st 2024. ?????
🧑🎄🍪
@@clearvaluetax9382 Merry Christmas 🎁🎄
Georgia also announced income tax rates will drop every year for 5 years.
Not only this guy but many more important information videos is all I watch all day everyday and I also don't just talk you must do!! Actions is key
Brian thank you! These videos are extremely helpful. Especially since this is the first year I will be doing taxes with a substantial income. Soon it will hopefully be a substantial income as a small business. Anyways Hope you have a great holidays man!
I wish you the very best in your small business endeavors Nathan!
I’m just here to say I appreciate this channel. Such great content for real people
That is so kind of you! Thank you for all the support Aduncaroo!
Bro you broke this down perfectly. Outstanding job! Thank you.
Here I was stressing about my investment taxes, but it really isn't as complicated as I thought. Thank you!!
Thanks👏👏 last year I claimed a loss of 30k and now i know that i can claim a 3k loss every year into the 30k loss finish.. thanks to you.👏👏👏
This was great for us beginners. So clear and to the point. Thank you so much!
Great video. Finally, someone covers the "overall" aspect @ 12:45, not just the 3k limit.
Thanks!
Thank you for that super thanks Steve!
He makes everything so easy to understand. With pictures, grapes, coloring and lettering, it’s just God send for someone like me who is just beginner in the field. It’s better than anything.
정말 감사합니다.
Thank you for the support and kind words Socho!
Thank you for this thorough video! Can you explain the tax implications from investing in index funds or ETFs in taxable brokerage accounts please…and ways to reduce taxable gains in those accounts??
so genius and elegantly done excellent job!!!!👏👏👏
You are an amazing teacher! I am binge watching these videos and my mind is completely blown that I am understanding any of this. Trust me when I say it’s because of the way you teach!
This is the best video I have fount on this topic so far! Thank you!
Thanks for being our Tax Professional.
My pleasure and thank you for the support Billy!
This is why your name will be remembered. Thank you Brian and Merry Christmas!
Thank you for all the support Blexaarron!
This is the most clarified explanation video I’ve ever seen
Good job explaining.
Amazing presentation man. You earned my Sub! Thank you!
Thank you for this great overview. I want try doing taxes on my own next year so I'll definitely be referencing this alot 😅
Awesome! And I hope this helps.
Awesome...Thank you. We will be waiting more new videos for Stock Market Taxes..
The one watch out I’ve experienced myself several times. Your tax documents can be amended by your brokerage after initial release. I never do my taxes before March 15th for this reason, I usually do them on April 1st. You’re usually safe by then.
3/15 is my bday. But taxes can be amended at any time I think up to 3 years later bro
Awesome. Information that I needed! Thank you!
Thanks for the info.
I have a few questions :
1. When covered call is assigned, can I choose which stock is assigned?
2. Assume I have 200 shares of stock, and sold 1 covered call contract, can I decide which stock get deduction of base price?
Great video, just discovered your channel and subscribed after listening to some your stock market videos which explain things very well. Thank you so much!
Happy Friday Brian!!! Have an awesome day and a fantastic weekend! Happy Holidays!🎄🌟
Happy Friday Rose Bloom!
You're the kind of person who, if I saw you succeeding, I would be very happy about it. Seems you're doing well with the channel!🎉
Merry Christmas to everyone
Thank you. I find your videos always helpful.
Thank you for such an easy way of explaining it! Way easier process than I anticipated
I think I get smarter every time I watch one of your video.
Thank you for this educational video. Regarding dividends, how are they taxed when they're "dripped" back into the stock?
They’re taxed when they DRIP back. It’s no different than receiving the dividend and you buying more of the stock. It’s a good question but it’s more of a convenience thing than a tax deferral thing.
A lot a value on the information you share on this video. Thank you
Thank you so much for sharing your knowledge and making it very understandable. Would be interested in more advanced info on this subject.
Awesome video, CVT! Can you expand on this when someone is using margin and paying every month on interests or margin fees?
Very clear and informative. Great video, thank you!
Thank you for this very informative video! would you please explain IRS treatment of Margin Interest.
Thank you for your videos man this clears up so much and its so easy to understand. 🙏
Happy to help! And thank you for the support!
Do the profits/losses we need to report for IRS/Taxes also include day trading and options or only stocks? Also, can we claim gains/losses on foreign stock investments like NIFTY/HKSE ?
This was an excellent video that you made, " This type of video WILL help me". Thank you for all of you hard work. Don't change the direction of the videos you make! It's not broken, don't fix it!.
Can you make video on how dividends are taxed? and how tax would look like if you invest in dividend stock overtime over the year(s) and how the taxes work in those scenarios?
Another amazing video! Thank you for all the info
GOD bless you 🙏
Thank you for this video. I finally understand this topic.
Glad it was helpful!
Thank you for the detailed explanation. I sold $50,000 of stock from my traditional IRA account on 12/5/24. I also have a part-time income of $7,000. May I know if I would get a tax penalty because I didn't pay a tax in advance before? Thank you for letting me know.
Thanks for the information. Question, is the 3k limit on capital loss limited to stocks or is that the overall limit you can claim for the calendar year? I have other investments (property) and wanted to know how claiming stock losses would impact other investments. Thanks again
You can use all your capital losses (beyond $3k) to offset your other capital gains (whether they be from the stock market, crypto, art, properties, etc). If you have more capital losses than capital gains, then you are capped at using $3K of capital losses to offset your non-capital gain income (such as wage income, interest income, dividend income, business income). I hope that helps!
Great video. I always love all the visuals,
Thank you for the feedback jaer!
Thanks. Can you do something similar for crypto gains/losses?
I do have a crypto tax video, but yes, I will make an updated one.
Fantastic work, Friend. Clear as a bell. Thank you very much.
You put out such useful information. Great work as always 👍
Great video man. The visuals helped so much. Gracias my friend.
Thanks for the video is AMAZING how simple you made this! Can you explain allowed and disallowed wash sales?
This was great! Love all the info you put out there Brian
Thank you for all the support Sabrina!
Thank you for creating this video , very educational.
Could you please confirm that capital gain tax only applying to brokerage accounts not tradition IRA ?? Thank you
Thank you for your clarity. I will watch more videos by you.
You are my favorite TH-camr
Bro one of my top 5 teachers on the tube.thank you for all
Thank you for all the support 1bannahpoam!
Thank you for this best 16min informational video!
You're very welcome! And thank you for the support!
That's a brilliant explanation, thank you very much 🙏
Thank you so much for this video. It made things very clear.
Best video ever for learning. Thanks
This was awesome - tysm. I would love to know how option premiums are taxed.
Your videos are super helpful. Plz keep on demystify the intricacies of trades and stocks;
Can you please provide us the insightful distinction on
Option vs future vs Forex exchange vs crypto
Which one do you recommend for beginners ?
Awesome video! Question: Do loss deductions counter dividends first or income first ?
Thank you for this clearly explained useful infromation!
My pleasure and thank you for the support!
Thanks for simplifying this!
Thanks for the information. I'm not interested in Taxes at all, but I think this is good to know for general investing.
Hi, I love your financial videos. Keep them coming . Couple of questions for you,
Q1: On the $3000 limit (loss) for taxable income deduction, if you are married and filing jointly, would the number go up?? if so how much??
Q2: If you re-invest the dividend on the same stock do you still pay taxes on the dividend for that year?
Thanks
Thank you! Love your content!
Do these rules apply to ETF’s?
Thanks for the explanation. Please advise about the loss carry over to next year (when bigger than $3000). Who keeps track of it?
I think the remaining carry over is always documented on your previous year’s tax form.
Broker and irs
Awesome video! It was easy to undestand and very informative. Thank you.
Thanks so much for these videos.
I love your channel, can't wait till you get 2M+ Subs!
Thank you for all the support and I'm looking forward to that too! =)
I took your advice and paid little throughout the whole year and started paying my fair share in this last quarter.....taxes....ugh!
Could you please explain Quarterly estimates? It doesn’t take much to invest your way past $1000.
Great videos!
I love this type of videos, very well explained and valuable. Thank you
Thank you for all the support Aldoa! I appreciate it so much!
Are any of the brokerage fees deductible? Are they considered part of the costs basis when you buy the stock? Are gambling/lottery losses part of the $3k per year limit?
Thanks for all the content Brian. Can you do one for crypto taxes. I lost some crypto because of fraud and I want to take the loss. Thanks
Great video! I go to an accountant to have my taxes done but I still like knowing how they are computed.
I absolutely love how you explain this so well. I was wondering how the taxes work. Like one year you make money on the stock market and of course you pay with money earned. And then if you lose the following year, I was wondering how that worked. I love that we can at least take it off of our taxable income. At least that is fair so that you are not only paying taxes but you can actually claim the losses. So it all balances out. And if you have lots of losses, you can get those back over time. I'm a very new investor and trying to learn as much as I can before jumping in. Thanks so much.
Thank you Brian ❤