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In this Do More With Your Money podcast episode, I discuss:
- How you should think about making financial decisions based on the tax implications.
- The difference between short-term and long-term capital gains taxes.
- Scenarios where you want to plan first and optimize for taxes second.
No one likes to pay more taxes than is necessary! However, you should avoid making financial decisions just because it may increase your tax liability in the short-term.
Generally speaking, you want to have a plan in place first and optimize tax efficiency.
Have a plan first, then optimize for taxes.
— TJ van Gerven (@TJvanGerven) March 15, 2021