Episode Summary

In this episode, Rob and Omen dig into the world of tax loss and gain harvesting, break down the essentials of car insurance, and share some off-duty culinary adventures. Whether you’re a military family, a financial planning enthusiast, or just here for the banter, there’s something for everyone.

Key Topics & Highlights

1. Car Insurance Deep Dive

• How your car’s make and model can impact insurance premiums
• Why recent years have seen a spike in rates (up 12% in 2025)
• The importance of tailoring coverage to your needs—not just picking the cheapest option
• Understanding state minimums, liability, and umbrella policies
• Special considerations for families with teenage drivers

2. Tax Loss & Gain Harvesting Explained

• What is tax loss harvesting? How can it offset gains and reduce your tax bill?
• The “final four” analogy for matching short-term and long-term gains/losses
• Carrying forward losses and the $3,000 annual deduction rule
• The wash sale rule: what it is, how to avoid it, and why it matters
• Tax gain harvesting: when and why to intentionally realize gains in low-income years
• Practical tips for tracking cost basis and managing lots

3. Fun Tax Facts

• The beard tax of 1698 (thanks, Peter the Great)
• The cat food deduction for junkyard owners
• The famous “Chesty Love” case: breast implants as a business expense

4. Off-Duty & Trivia

• Smoked sausage fatty recipe and BBQ talk
• Trivia challenge: wild hedge fund tax loss strategies (and a zero-point streak for Rob)
• Outtakes and behind-the-scenes laughs

Key Takeaways

1. Car Choice Matters: The car you drive can seriously impact your insurance bill. Check how your dream car scores with insurers before you buy.
2. Tax Loss Harvesting: Selling investments for less than you paid can offset other gains and up to $3,000 of regular income each year.
3. Wash Sale Rule: You can’t buy the same or substantially identical investment within 30 days, or the IRS cancels your loss. Track your trades carefully.

• Subscribe & Share: If you enjoyed this episode, please subscribe and share The Fiscal Foxhole with a friend!
• Send Us Your Questions: Email [email protected] with questions or topics you’d like covered.
• Book a Consultation:
  • Book a meeting with Omen
  • Book a meeting with Rob

Disclaimers

This podcast is for educational and entertainment purposes only. Rob Moore and Omen Quelvog are registered investment advisor representatives, but they are not your advisors. Nothing you hear on The Fiscal Foxhole should be taken as specific investment, legal, or tax advice. For guidance tailored to your situation, consult a qualified professional.