How to Save on Taxes with Ankur Nagpal

Partner Deals Long Angle: Join a free private community for high net worth investorsBilt Rewards: ⁠Earn the most valuable points when you pay rentQuince: Affordable luxury essentials with free shipping + 365 day returnsFabric: ⁠Affordable term life insurance for you and your familyMasterClass: ⁠Learn from the world's best with up to 15% offFor all the deals, discounts and promo codes from our partners, go to: allthehacks.com/deals#147: Chris and Ankur Nagpal (co-founder of Carry) discuss strategies to save money on taxes. They explore offsetting W2 income, limiting capital gains, some unique investments that help optimize your taxes and more! They also cover tax strategies for current and future business owners.Ankur Nagpal is the founder and CEO of Carry, which helps empower business owners to build their wealth. He also founded Teachable, an e-learning platform that was acquired for ~$250 million.Link to Full Show Notes: https://www.allthehacks.com/save-on-taxes-2023Partner DealsDaffy: Free $25 to give to the charity of your choiceDeleteMe: 20% off removing your personal info from the webHenson Shaving: Plastic-Free, Precision-Built Razors + $100 free BladesLMNT: Free sample pack of my favorite electrolyte drink mixShopify: $1/month trial for the easiest e-commerce platformCarry: $400 off Pro Plan and free access to premium wealth building courseFor all the deals, discounts and promo codes from our partners, go to: allthehacks.com/dealsResources MentionedAnkur Nagpal: Twitter | Carry (+ Carry's Free Resources)Side Hustles For Experts: GLG | GuidepointProfessional CPAs: Gelt (Skip the waitlist with this link)Tax Decoding Site: Decode.taxInterest Tracing Guidelines Tactics: Deloitte Guide | SVB Mortgage ExampleTax Advantaged Solar: ValurExchange Funds: Cache (Management fees waived for one year with this link)ATH Episodes: #144: Leveraging Tax-Advantaged Accounts to Maximize Your Wealth with Katie Gatti Tassin #92: Year End Checklist for Your Money, Taxes, Points and Miles #62: Protect Your Family, Mitigate Taxes and Preserve Your Wealth Full Show Notes(03:30) Why It's Important to Pay Taxes(05:00) Basic Context on Taxes(08:33) Capital Gains for General W2 Income Earners(14:00) Itemizing Deductions(20:09) Charitable Deductions(25:14) Home Energy: Inflation Reduction Act(27:49) Tax Strategies for Parents(31:39) Non-Qualified Deferred Compensation Plans (NQDC)(39:29) Side Hustles for W2 Income Earners(40:47) Hiring a CPA vs. Doing Taxes on Your Own(45:39) Using AI to Help with Taxes(47:05) Tax Code for Personal Real Estate(53:36) Real Estate Investments(1:02:17) Tax Incentives for Solar(1:09:38) Other Investment Tax Strategies(1:12:29) Qualified Business Income Deduction(1:22:28) Health InsuranceConnect with All the HacksAll the Hacks: Newsletter | Website | Membership | EmailChris Hutchins: Twitter | Instagram | Website | LinkedInEditor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.