Tiny Money Moves, Massive Tax Headaches

Discover the hidden tax traps in everyday financial decisions, as financial advisor Brenton Harrison reveals the top mistakes people make that can lead to massive IRS bills. From selling stocks to pulling retirement cash, timing is everything. Learn how short-term gains can cost you up to 37% in taxes, while long-term gains drop to 0%, 15%, or 20%. Plus, explore the impact of benefits, investments, and small businesses on your taxes. Dont miss out on deductions and strategies to keep your brackets low and savings high. Avoid costly pitfalls like missing required minimum distributions and botching Roth contributions. Coordinate with your spouse and advisor to make informed decisions and keep your taxes in check.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.