3 Tax Tips to follow before the holidays are in full swing!

Tip #1

For those people with capital gains from sales of stock or from mutual fund distributions, many know that they can offset those gains with a loss, but few actually sit down and do the annual exercise. It is a good idea to meet with a Tax Planner to look at your losses or winnings. By selling those losing assets, you can offset your other investment gains and end up with an equivalent of no capital gains. Many people would rather not sell their under performing assets, because they believe they’re about to “come back” and wouldn’t dare wait the 31-day waiting period to repurchase the same asset as an allowable purchase but there are many legal “workarounds” to that rule. The Market has been and is forecasted to continue to be volatile, you should be meeting and discussing a plan that can be executed on a set number during a Dip or Peak.

Continue reading

Please follow and like us: