At The Money: Tax Day Special

In this Tax Day special of Bloomberg's At The Money, host Barry Ritholtz is joined by Bill Artseronian, Director of Tax Services at Ritholtz Wealth Management, to explore critical tax planning strategies for investors ahead of the 2025 tax deadline. The conversation emphasizes that tax planning is not a one-time year-end task but a year-round, generational strategy integral to overall financial health. Key topics include the importance of tax deferral versus avoidance, the risks of ignoring timing in capital gains realization, and the pitfalls of overpaying estimated taxes. Artseronian outlines three top moves for high-earning professionals: charitable giving through bunching and donor-advised funds, strategic timing of equity compensation income to avoid AMT and bracket creep, and maximizing retirement contributions—especially the 401(k) and HSA—while leveraging tools like the mega backdoor Roth and tax-free HSA growth. The episode also covers recent changes from the 'Big Beautiful Bill,' including the SALT deduction increase from $10,000 to $40,000 (with phase-outs above $500K), and upcoming limits on charitable deductions for high earners. Thoughtful tax loss harvesting is promoted as an ongoing practice, not just a December ritual, with state-specific nuances like New Jersey’s lack of loss carryforwards. The hosts stress that proactive, comprehensive tax planning can significantly reduce current liabilities and build long-term wealth resilience.