The Best Tax Strategy Might Be to Delay Taxes Until You Die, LFG Daily - July 16th, 2026

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The Best Tax Strategy Might Be to Delay Taxes Until You Die

One of the biggest mistakes I see retirees make is becoming obsessed with paying as little tax as possible today.

They’ll avoid selling appreciated investments, pass on rebalancing, or reject investment opportunities simply because they don’t want to trigger a capital gain.

Tax avoidance becomes the investment strategy.

That’s backwards.

The goal isn’t to pay the least amount of tax this year.

The goal is to maximize your after-tax wealth over your lifetime.

And for many older investors, one of the most powerful tax strategies isn’t eliminating taxes—it’s delaying them.

The Power of the Step-Up in Basis

Under current tax law, most appreciated assets held until death receive what’s called a step-up in basis.

Imagine you bought a stock for $100,000.

Today it’s worth $800,000.

If you sell it during your lifetime, you may owe capital gains tax on the $700,000 gain.

But if you hold that investment until you pass away, your heirs generally inherit it at its current market value. That $700,000 of unrealized gain effectively disappears for income tax purposes.

That’s one of the most valuable tax benefits available.

For someone in their late 70s, 80s, or beyond, paying capital gains tax today simply to “get it over with” may actually reduce the amount ultimately passed to the next generation.

Time Can Be Your Best Tax Shelter

If you’re younger, your planning horizon is measured in decades.

If you’re older, your planning horizon may be measured differently.

That changes the math.

Every year you continue holding appreciated assets, you’re potentially moving one year closer to a step-up in basis.

Instead of accelerating taxes, sometimes the better strategy is simply to defer them.

Not forever.

Just long enough.

This Doesn’t Mean Never Sell

Of course, there are plenty of reasons to realize gains during your lifetime.

You may need income.

You may want to diversify an overly concentrated position.

You may be in an unusually low tax bracket.

You may live in a state with favorable tax treatment.

Or tax laws could change in the future.

Financial planning is never one-size-fits-all.

But many investors sell highly appreciated assets without considering whether paying the tax today actually improves their overall financial plan.

Sometimes it does.

Sometimes it doesn’t.

The Real Goal Is Maximizing Family Wealth

Good financial planning isn’t about winning the tax battle this year.

It’s about making decisions that leave you—and potentially your family—with the greatest amount of wealth after taxes.

That means coordinating investments, estate planning, cash flow, charitable giving, and taxes together.

The tax return is only one page of the story.

The balance sheet is the entire book.

If you’re later in retirement and already have enough income to support your lifestyle, don’t let the fear of taxes force unnecessary decisions.

Sometimes the smartest tax strategy isn’t finding another deduction.

It’s simply having the patience to wait.

For many families, delaying capital gains taxes until death can be one of the most effective wealth-transfer strategies available under current law.

As always, this strategy isn’t appropriate for everyone. Tax laws can change, and every family’s circumstances are different. That’s why the best tax strategy is always one that’s built into a comprehensive financial plan—not one that focuses on taxes in isolation.

Click here to schedule a meeting — I’m here to help you take the next step toward financial freedom.

Colin Symons, CIO Lloyd Financial Group

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Again, Iran is causing fears but the energy market expects trouble to be limited. Are you smarter than the market?

Inflation looks good, with CPI and PPI looking constructive for two months. People will point to Iran but the oil market says that’s unlikely to be a real problem. The Fed isn’t hiking any time soon.

Rates and the dollar are improving, and I don’t see why that can’t continue.

Semiconductors remain a focus.

Short-term factors are helping violently move assets around as investors fear rotation.

Liquidity took some hits with recent chaos but never got bad. That should be able to improve.

Lots of people seem to be focusing on what can go wrong. That’s common, but you may want to think about what can go right.

PPI followed CPI by relaxing, at -0.3% m/m vs. exp. -0.1%. Core was 0.2% vs. exp. 0.4%, and prior numbers were also moved down. This should help make Core PCE inflation look great. July hike odds are now down to 4%, which seems 4% too high.

The Fed’s Beige Book showed slight to moderate growth in 11 of 12 districts. That’s an improvement, and signs of recession aren’t there.

Empire State Manufacturing was 15.6 vs. exp. 8.6.

1Y inflation swaps fell below 2% for the first time since 2024.

Korea is temporarily halting new listings of leveraged single-stock products to curb recent volatility.

Taiwan Semi (TSM) had great earnings and guidance but did up spending as they expand US chipmaking capability and fulfill their pledge to the US. Shares were down -4%, presumably on increased capex.

United Healthcare (UNH) was up 7% after beating earnings and upping guidance.

Jobless Claims, Philly Fed Manufacturing, and Retail Sales, today.

Bottom line: TSM was good but spending fears are hitting it anyway

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