Ep # 57: The Tax Benefits Of Investment Losses

No one likes to lose money, but once in a while it can actually be a good thing! If you own a non-retirement account or basically any investment outside of your retirement assets, you can deduct a loss on your tax return. There is a limit and some caveats in order to deduct your losses. To find out all that it entails, check out this podcast episode! [1:33] What is tax loss harvesting and what type of accounts does it affect?[3:36] Why is it important?[5:36] When is a good time to review investments?[6:32] How much can you deduct?[10:22] Our role in the process.[12:29] Proposed changes with the capital gains rate.[13:47] Why it's good to claim losses.[15:47] What is the wash sale rule?Tracking # 1-05208012Thanks for listening!If you want to be notified when the next episode will be released, you can:Subscribe to the ShowFor more insights on everyday financial planning questions,  go to www.haasfinancialgroup.comContact Us:Email us at [email protected] advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.