What and How to Use Tax Gain Harvesting

Tis the season of tax talk. You’re starting to see more and more news and social media posts to begin preparing for tax season. Me included. I recently saw a post on tax gain harvesting and wanted to learn more about what that is and who should be harvesting.

In this episode, Sean Mullaney breaks down tax gain harvesting and how people can use it in their tax planning. We also discuss the importance of going beyond the mentality of tax filing and into tax planning.

Sean is an advice-only financial planner and the President of Mullaney Financial & Tax, Inc. He is the author of the Plutus Award-winning blog FITaxGuy.com on tax and financial independence. He also has a personal finance YouTube channel and published Solo 401(k): The Solopreneur’s Retirement Account, a book about his favorite retirement account.

Tax Gain Harvesting Episode Details

    • Tax gain harvesting defined
    • How tax gain harvesting works and its benefits
    • The type of situation it’s best used for
    • What tax loss harvesting and the tax benefit it provides
    • Why finding the right tax professional to help with planning is key
    • Mistakes with tax gain harvesting, including triggering too much gain and what that causes

Related podcast: What Getting a Tax Refund Really Means

Tax Gain Harvesting Resources

     

     

     

     

     

     

     

    • Sean’s Disclaimer: The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual. Lacey and The Military Money Show do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services.

     

     

     

     

     

     

     

     

     

     

     

     

     

    Related: How to Make Your Military Taxes Ready

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      Disclosure

      These notes may contain links to our affiliate products or services, which means I might get compensation when you click or buy. That said, I will only put affiliate links that align with our podcast discussion.

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