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3251: Specific Identification of Shares by The Mad Fientist on How to Boost your Investment Returns

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Manage episode 500713796 series 2394769
Content provided by Optimal Living Daily LLC and Optimal Living Daily | Diania Merriam. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Optimal Living Daily LLC and Optimal Living Daily | Diania Merriam or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.

Episode 3251:

The Mad Fientist breaks down a powerful but often overlooked tax strategy that can significantly boost your investment returns: specific share identification. By choosing exactly which shares to sell, you can minimize capital gains taxes and optimize long-term wealth accumulation, a simple tweak with massive financial upside.

Read along with the original article(s) here: https://www.madfientist.com/specific-share-identification/

Quotes to ponder:

"Most brokerages default to FIFO (first-in, first-out), but that’s not usually the most tax-efficient method."

"With specific share identification, you choose which shares you sell, which means you can control how much tax you’ll pay."

"Taking a few minutes to choose which shares to sell can save you thousands of dollars over your investing lifetime."

Episode references:

Vanguard - Cost Basis Methods: https://investor.vanguard.com/investor-resources-education/taxes/cost-basis

IRS Specific Identification of Shares: https://www.irs.gov/publications/p550#en_US_2023_publink100099023

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

4060 episodes

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Manage episode 500713796 series 2394769
Content provided by Optimal Living Daily LLC and Optimal Living Daily | Diania Merriam. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Optimal Living Daily LLC and Optimal Living Daily | Diania Merriam or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.

Episode 3251:

The Mad Fientist breaks down a powerful but often overlooked tax strategy that can significantly boost your investment returns: specific share identification. By choosing exactly which shares to sell, you can minimize capital gains taxes and optimize long-term wealth accumulation, a simple tweak with massive financial upside.

Read along with the original article(s) here: https://www.madfientist.com/specific-share-identification/

Quotes to ponder:

"Most brokerages default to FIFO (first-in, first-out), but that’s not usually the most tax-efficient method."

"With specific share identification, you choose which shares you sell, which means you can control how much tax you’ll pay."

"Taking a few minutes to choose which shares to sell can save you thousands of dollars over your investing lifetime."

Episode references:

Vanguard - Cost Basis Methods: https://investor.vanguard.com/investor-resources-education/taxes/cost-basis

IRS Specific Identification of Shares: https://www.irs.gov/publications/p550#en_US_2023_publink100099023

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

4060 episodes

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