Taxes for Investors

Taxes are the largest, quietest cost most investors carry — a drag that can quietly consume a third of a lifetime's gains while never appearing on a single brokerage statement as a "fee." This book makes that invisible cost visible, then hands you the legal tools to shrink it.

Who this book is for

It is for the beginner who just opened a brokerage account and received a confusing tax form, and for the experienced investor who suspects they are leaving money on the table every April. No accounting background is needed. Every concept — cost basis, holding periods, the wash-sale rule, qualified dividends — is built up from first principles with worked examples.

What you will walk away with

You will understand how short- and long-term capital gains are taxed differently, why qualified dividends beat ordinary ones, how the wash-sale rule can silently disallow your losses, and how tax-loss harvesting turns a down market into a future tax saving. You will learn the tax treatment of bonds, REITs, MLPs, and crypto; how foreign withholding works; the basics of estate and gift tax; and the single highest-value habit in the book — placing the right assets in the right accounts.

How to read it

The early chapters build the foundation; later chapters cover specific asset classes and can be read on demand when you actually hold that asset. Tax law changes every year, and brackets, limits, and thresholds shift with it. Every figure in this book is an illustration grounded in mid-2020s rules — confirm current numbers with the IRS and consult a qualified tax professional before making decisions. Nothing here is individualised tax advice.

Start with Why Taxes Matter More Than You Think →