EPISODE · Nov 21, 2023 · 25 MIN
Tax-Loss Harvesting Strategies to Maximize Your Benefit and Avoid Costly Mistakes
from Ready For Retirement · host James Conole, CFP®
Tax loss harvesting is a strategy that investors use to reduce their tax bill. However, there are many misconceptions about tax loss harvesting, including when it's valuable and how to do it effectively.James debunks some of the most common myths about tax loss harvesting and explains how to use this strategy to your advantage.Questions Answered:How can investors benefit from tax loss harvesting by offsetting capital gains and ordinary income taxes?What are the rules and limitations surrounding tax loss harvesting, including the wash sale rule?Timestamps:0:00 Intro3:59 Listener example6:26 Identify a replacement security11:17 Example17:20 Capital losses20:30 Looking at tax loss harvest23:44 Intentionally realizing gains24:25 OutroCreate Your Custom Strategy ⬇️Get Started Here.Join the new Root Collective HERE!
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What this episode covers
Tax loss harvesting is a strategy that investors use to reduce their tax bill. However, there are many misconceptions about tax loss harvesting, including when it's valuable and how to do it effectively. James debunks some of the most common myths about tax loss harvesting and explains how to use this strategy to your advantage. Questions Answered: How can investors benefit from tax loss harvesting by offsetting capital gains and ordinary income taxes? What are the rules and limitations su...
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Tax-Loss Harvesting Strategies to Maximize Your Benefit and Avoid Costly Mistakes
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