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Ep. 69 Where you put your money is as important as how much you have
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Ep. 69 Where you put your money is as important as how much you have. You want to be tax efficient with your money so the particular account you put different assets in will drive whether they are efficiently taxed or not. In this episode of the Red Barn Financial Podcast I will share some factors you need to consider when you are choosing where and with what assets to invest.
For example, if you put dividend paying stocks in your brokerage account you will pay taxes on the dividends in the year you earn them. If you put them in an IRA then you defer the taxes to a future year. On the other hand you turn capital gains into ordinary income in the IRA.
With respect to real estate, if you have that in an IRA account, lose the opportunity to depreciate the property, you can't use it personally and you also lose capital gains tax treatment which can be beneficial.
Disclaimer: The information contained in this podcast is for informational purposes only and is not financial advice. Everyone's situation is different, so you should discuss your needs with a financial advisor like me.
Contact information: Red Barn Financial Sean Moran - smoran@redbarnfinancial.com 615-619-6919 www.redbarnfinancial.com
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