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Episode 164 (Yiddish): Important to Do This for Your UGMA Account
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In this week’s lecture, I talk about how to legally reduce the amount of taxes you may owe when taking money out of a UGMA account. I explain why understanding the tax rules is important, what to be aware of when withdrawing funds, and how proper planning can help avoid unnecessary taxes. This lecture is meant to help you make smarter, informed decisions with your UGMA account.
Categories:Education/Finance
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Transcript
Auto-generated transcript. Not time-synced to the video.
Fore
the guild
to prevent
legally
especially
in the
S&P 500 spy shares
index funds whatever is
tax liability
The Charlotte text 845 5721212
students for the options program
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account by the way and uniform gifts of
miners act uniform transfers to miners
act anyway
account.
Then
account is account for the account.
different ages and different states,
different
21 age 21
unless
the
including
so
Chase Banker
account owner is not the custodian
is the
benefit. So
the benefit of
the risk is the benefit. The girls got
the of the
age 212
benefits
as of 2025.
As of 2025, the iss
of the kins low tax rate and of them
above $2,700 is taxed for the
rate. Yes. The the text is
the account
of tax.
What's the problem? The problem is
the S&P 500 saves the guilt for the
benefition.
The host
is belong.
from the IRS
office. So,
for
whatever says
$500,000
is unrealized.
So yeah.
So okay,
tax
this is the
account.
items. Number one is
numbers. But whatever says
for
December.
Kick off account.
By the way, disclaimer tax advice
for educational purposes only.
By the way,
this is the the amount
Realize the prophet
taxes
and the basis
invested in
realiz is the $1,000,000
yet,000,000
$10,000
concerned
The wash sale rule is
the wash sale,000
in the S&P 500 and the S&P 500
$5,000,000
tax return,000
deduction. So
realizing
05,000,000
tax returning
the loss.
taxenefit.
No, no, no.
Similar investment
shares, ETFs within 30 days.
When the realize loss
is given again in one of them
again applied the wash sale rule.
Over time, however,
company, the S&P 500, the stock market
again.
ite.
is
the
tax realized
basis.
Tax free withdrawal in an account of
their amount
of
concern
income.
$50 for free taxes
lower tax
0 to 10 to 5 to 10%
tax.
of a lower tax.
So situation. So this is the bottom line
with the
account and again
Then say no.