Episode 20 – The History of Taxes

Laura, Randy, and Jeremiah Lee discuss tax planning strategies, emphasizing the importance of understanding tax laws and utilizing tax loss harvesting.

You won’t want to miss Randy and Jeremiah facing off in the “Tax Dash” game. Laura highlighted the emotional state of clients when preparing taxes, while Randy stressed the need for constant awareness of changing tax laws. Jeremiah emphasized a long-term, multi-year approach to tax planning, and Laura shared her experiences working with local CPAs. Later, Laura and Randy discussed the relationship between tax rates and productivity, with Randy provided historical context on the highest tax bracket in US history and Laura questioning the impact of low tax brackets on economic growth.

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This week on Building Wealthy Habits:

00:00 – Laura introduces the tax-themed game show “Tax Dash”

0:09:38 – Jeremiah and Randy go head-to-head!

0:12:02 – Bonus historical context about Al Capone to earn an extra point and win the game

0:15:03 – The group discusses long-term tax planning strategies they implement for clients

0:20:15 – Strategies of tax loss harvesting in investment accounts

0:22:09 – Donor advised funds for charitable giving

Connect with Jeremiah:

  • LinkedIn: https://www.linkedin.com/in/jeremiahjlee/
  • Email: Jeremiah@tricordadvisors.com

Connect with Laura:

  • LinkedIn: https://www.linkedin.com/in/laura-lee-59a83610/
  • Email: Laura@tricordadvisors.com

Connect with Randy:

  • LinkedIn: https://www.linkedin.com/in/rkbarkley/
  • Email: Randy@tricordadvvisors.com

This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel. Neither the information presented nor any opinion expressed constitutes a representation by us of a specific investment or the purchase or sale of any securities. Asset allocation and diversification do not ensure a profit or protect against loss in declining markets. This material was developed and produced by Advisor Websites to provide information on a topic that may be of interest.

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