We Were NEVER Taught About Taxes (Let’s Fix That) - 9

Action Item: Review your tax situation and see which strategy you can implement before filing your taxes this year. If you're sitting on investment gains, check if you qualify for 0% capital gains harvesting.SummaryIn this episode, I break down the tax strategies that nobody taught us in school but that can save you hundreds or even thousands of dollars. I share how my wife and I legally paid 0% taxes on our investment gains using capital gains harvesting, and I walk through exactly how you can do the same. I explain how tax brackets actually work (spoiler: a raise won't hurt you), the difference between gross income, AGI, and taxable income, and when to take the standard deduction versus itemizing. I also cover how to turn investment losses into tax savings with the $3,000 capital loss deduction, how 401k contributions reduce your tax bill while building wealth, and the last minute strategy my wife and I used to flip a tax bill into a refund by contributing to our HSA and IRA before the filing deadline. The key takeaway: taxes are complicated on purpose (thanks tax filing companies), but with a little knowledge, you can use them to your advantage.Resources & Links MentionedFidelity - How Tax Brackets Work: https://www.fidelity.com/learning-center/personal-finance/how-do-tax-brackets-workTaxAct - How Tax Brackets Work: 2025 Examples and Myth Busting: https://blog.taxact.com/how-tax-brackets-work/SmartAsset - Taxable Income vs. AGI: Key Differences and Examples: https://smartasset.com/taxes/taxable-income-vs-agiNerdWallet - Itemized Deductions: How They Work, Common Types: https://www.nerdwallet.com/taxes/learn/itemized-deductions-standard-deductionGolden Road Advisors - 7 Common Tax Mistakes and How to Avoid Them: https://goldenroadadvisors.com/common-tax-mistakes/[Money Talk] Planning for Taxes with Kyle Beltle - 191: https://youtu.be/amnlKPoWipM[FPYA] Free Healthcare with an HSA - 6: https://youtu.be/dnOr-lkNxo8Timestamps[03:08] My story: How we paid 0% taxes on investment gains[09:43] Research begins: How tax brackets actually work (the bucket metaphor)[14:23] 2026 tax tables breakdown for planning ahead[16:00] Capital gains tax brackets and the 0% opportunity[17:18] What is AGI (Adjusted Gross Income) and why it matters[19:11] Standard deduction vs itemized deductions explained[20:32] Common tax mistakes (including my IRA over-contribution story)[23:13] Case Study 1: Emma's raise - proving you won't make less money[26:31] Case Study 2: Marcus's 0% capital gains harvest and raising basis[30:04] Case Study 3: Jordan's $2,100 loss turned into $462 tax savings[34:06] Case Study 4: Aisha's 401k strategy saves $501 in taxes[36:31] Case Study 5: David and Maya's last-minute HSA/IRA contributions flip their tax bill into a refundEmail me at [email protected] may earn affiliate commissions