WCI #126: How to Reduce your Investment Taxes with Phil DeMuth

Every doctor and other high income earner wants to reduce their investment taxes. Our podcast guest, Phil DeMuth, is just the man to help you do that. See the full transcription and links to everything discussed in this episode at https://www.whitecoatinvestor.com. Phil is the managing director at Conservative Wealth Management, LLC, http://phildemuth.com/ where he enjoys working with "high net worth clients and saving them from the depredations of the financial services industry." He is the author of 11 books, my favorites being The Affluent Investor and The Overtaxed Investor. We really focus on taxes in this episode, especially investment-related taxes. Phil says that doctors are ducks in a shooting gallery. We are the most vulnerable people in terms of taxes and we need to learn to defend ourselves as best we can. In this episode we look at all the tax reducing tactics like maximizing the use of retirement accounts, using tax efficient investments in your taxable accounts, getting your asset location right, making sure your dividends are qualified and that your capital gains are long-term, depreciating real estate, tax loss harvesting, donating appreciated shares to charity to flush those capital gains out of your portfolio, getting a step up in basis at death, etc. Which of these tactics will make the most impact? Listen to this episode to figure it out.

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The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!

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