Reminder: Year end tax loss harvesting!

The end of the year (and the tax year) is fast coming and I want to remind everyone to have a look at your investments. If you are holding anything in a taxable account and have losses it would be a good time to harvest them.

You only want to sell if you truly do not wish to own the asset any longer and have a loss on the position. If you change your mind later be sure to wait 30 days to avoid the wash rule. Now is the time to be able to claim those tax write-offs for investment losses!

Remember: You can use your losses against any gains this year and still deduct up to $3,000 in additional losses after that. Any net losses beyond $3,000 can be carried over for next year and claimed then.

Don't pay too much tax! Claim your losses, have a smaller tax burden, and move on!