How to Save on Taxes with Ankur Nagpal

#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-2023

Partner Deals
Daffy: Free $25 to give to the charity of your choice
DeleteMe: 20% off removing your personal info from the web
Henson Shaving: Plastic-Free, Precision-Built Razors + $100 free Blades
LMNT: Free sample pack of my favorite electrolyte drink mix
Shopify: $1/month trial for the easiest e-commerce platform
Carry: $400 off Pro Plan and free access to premium wealth building course
For all the deals, discounts and promo codes from our partners, go to: allthehacks.com/deals

Resources Mentioned
Ankur Nagpal: Twitter | Carry (+ Carry's Free Resources)
Side Hustles For Experts: GLG | Guidepoint
Professional CPAs: Gelt (Skip the waitlist with this link)
Tax Decoding Site: Decode.tax
Interest Tracing Guidelines Tactics: Deloitte Guide | SVB Mortgage Example
Tax Advantaged Solar: Valur
Exchange 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 Insurance

Connect with All the Hacks
All the Hacks: Newsletter | Website | Membership | Email
Chris Hutchins: Twitter | Instagram | Website | LinkedIn

Editor’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.

#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-2023

Partner Deals

Daffy: Free $25 to give to the charity of your choice

DeleteMe: 20% off removing your personal info from the web

Henson Shaving: Plastic-Free, Precision-Built Razors + $100 free Blades

LMNT: Free sample pack of my favorite electrolyte drink mix

Shopify: $1/month trial for the easiest e-commerce platform

Carry: $400 off Pro Plan and free access to premium wealth building course

For all the deals, discounts and promo codes from our partners, go to: allthehacks.com/deals

Resources Mentioned

Ankur Nagpal: Twitter | Carry (+ Carry's Free Resources)

Side Hustles For Experts: GLG | Guidepoint

Professional CPAs: Gelt (Skip the waitlist with this link)

Tax Decoding Site: Decode.tax

Interest Tracing Guidelines Tactics: Deloitte Guide | SVB Mortgage Example

Tax Advantaged Solar: Valur

Exchange Funds: Cache (Management fees waived for one year with this link)

ATH Episodes:

#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 Insurance

Connect with All the Hacks

All the Hacks: Newsletter | Website | Membership | Email

Chris Hutchins: Twitter | Instagram | Website | LinkedIn

Editor’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.