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Can brearing a loss, help you save some money? Well, it may if you opt for Tax-loss Harvesting.
Tax loss harvesting is the practice of selling off securities at a loss in order to offset the captain gain taxes that one might have to pay on profits booked by selling other securities.
So with tax loss harvesting , you can offset your capital gains tax arising on your profit. And if you want to maintain your portfolio, you can always buy the sold securities back.
However, dont buy back your securities too fast! In the US, if stocks are sold and bought back within 30 days just to reduce taxes on realised gains, they are considered wash sales, and you can not offset your taxes.
Taxes dont have to be tricky. Reach out ot our Specialist to understand how to offset your taxes based on the right Tax Harvesting Strategy.
We offer the support and guidance of experienced advisors who can help you navigate the process of creating a plan for your financial success
Frisco Business Solutions Group Inc DBA FBS Securities is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
