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How State Taxes Impact Your Investments: Why Mid-Year Tax Planning Matters | Winning With Winans · Winning With Winans!

winning with winans: It has to do with the difference between an investor who lives in a state with a state income tax on top of their federal tax and a state such as Nevada where they don't. It does make my job more difficult if I have to take, in the case of California, That added massive amount of tax that in even though it's deducted against your state, your income, your federal tax, but still it makes things difficult. So again, I'm I just think again, you have to meet with your advisor. Tax management's important. And if you live in a place where there is a high state income tax, you're gonna have to again have a serious discussion with your advisor about what, as we used to call in the military, the rules of engagement are. And if you're telling your advisor, hey, just go and make as much money as you can, that means you have to buy and sell certain things to reposition. That can be difficult when you got that added tax bill. So again, I think it's in important mid-year to meet with your advisors.