How To Reduce Your Tax Bill (2022 Guide)

How To Reduce Your Tax Bill (2022 Guide)

In today’s video, we’ll be going over some common methods used to reduce your taxes. So whether you're a first-time tax filer or a seasoned veteran, today’s video is for you. After all, who doesn’t want to pay fewer taxes?

✍️ HELPFUL LINKS ✍️

🕒 TIMESTAMPS 🕒
00:00 -- Intro
00:32 -- Deductions + Credits
01:45 -- Itemized deductions
03:53 -- Homeowner capital gains break
05:08 -- Employee stock purchasing program
08:31 -- Retirement savings deduction
10:02 -- Tax-loss harvesting

📝 DISCLOSURE 📝
The information contained in this communication is provided for general informational purposes only, and should not be construed as investment or tax advice. All investing involves risk, including the possible loss of money you invest, and past performance does not guarantee future performance. Wealthfront Advisers and its affiliates do not provide tax advice and investors are encouraged to consult with their personal tax advisors to discuss tax-related matters specific to their situation. Investment advisory services are provided by Wealthfront Advisers LLC, an SEC-registered investment adviser, and brokerage products and services are provided by Wealthfront Brokerage LLC, Member FINRA/SIPC.

The Tax-Loss Harvesting ("TLH") Tax Benefit of 1.8% was calculated using the TLH yields for our Classic and SRI portfolios as of 12/31/2022. A TLH yield value for each risk score was calculated by averaging the yield for every cohort from 2012 to 2022. The weighted-average yield is 4.87% which is multiplied by an assumed tax rate (combined federal, state, and local) of 37.5%, and rounded down, to arrive at the TLH benefit.

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[kasiwilliams]

Thanks for explaining tax harvesting I was confused as to selling stock which triggers capital gains, but I see you immediately purchased another stock which eliminates that problem.