07/12/2023
Are you familiar with tax loss harvesting?
It’s when an investor strategically sells an investment that has lost money, so they can use the loss on their taxes to offset capital gains taxes on other investments. It's also a popular end-of-year trading strategy that investors may use to try to reduce their tax bill for the year!
There are some stipulations and regulations that need to be considered. The largest concern is time. In order for the tax reductions to apply to this calendar year, the sale of the investment needs to close before the last business day of the year. So, time is critical. Let me know if you have any questions!
