TAX-LOSS HARVESTING

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As the end of the year approaches, we’d like to talk to you about one way to potentially lower the taxes you pay.

It’s a technique called tax-loss harvesting and it’s designed to help you reduce your capital gains taxes by selling assets that have lost value.

Our team of experienced professionals only works through this model when it’s appropriate.

It can seem complicated (and not always a good idea), so here are 3 things you should know:

1) Determine whether you have short-term or long-term gains. If you sold an asset that you held for less than a year, you generated short-term capital gains. And these are taxed at higher rates than long-term capital gains.

2) Separate your apples and oranges. When selling assets for a loss to offset your capital gains, you need to keep apples with apples and oranges with oranges.

Short-term losses are used to offset short-term gains, while long-term losses offset long-term gains.

3) Don’t let your tax bill drive your whole strategy. It’s generally a bad idea to sell assets strictly to harvest a tax loss, especially if those assets still belong in your portfolio.

No one likes paying taxes, but ultimately, your goal is to build wealth – make your investment decisions with that goal in mind.

We can work together to identify the right time to liquidate underperforming investments if it makes sense for you.

Bottom line: Tax-loss harvesting can be a savvy way to reduce your capital gains taxes, but it needs to be coordinated with your overall planning.

Want to think it through together? Please contact our investment advisor representatives. This is a time-sensitive move, so let’s talk soon.

P.S. Know anyone who could use a second opinion on their portfolio strategy this year?  Please let us know, we will work with your CPA or tax specialist to coordinate your tax strategy.  We’ll try to be available for them before the end of the year.

Thanks,

Prevail Innovative Wealth Strategies

 

Investment Advisory services are offered through Prevail Innovative Wealth Advisors, LLC, a federally registered investment advisor. Registration with any securities authority is not an endorsement of the services offered by the investment adviser. Fixed insurance products and services are offered through Prevail Strategies, LLC, a licensed insurance agency. A client may receive investment advice in addition to fixed insurance recommendations as a part of the financial planning process. Prevail Innovative Wealth Advisors, LLC and Prevail Strategies LLC have common ownership. Prevail Innovative Wealth Advisors, LLC and Prevail Strategies LLC do not provide tax or legal advice. You should always consult your CPA or tax professional for decisions involving tax implications present and future.
For a copy of Prevail Innovative Wealth Advisors Privacy Policy, Disclosure Brochure (Form ADV Part 2A), or Client Relationship Summary (Form ADV Part 3), please contact your Investment Adviser Representative or call our main office at (913) 295-9500.

Kerry Lawing

CEO

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TAX-LOSS HARVESTING

Frequently Asked Questions

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Quam elementum pulvinar etiam non. Nibh praesent tristique magna sit amet purus. Augue lacus viverra vitae congue eu. Bibendum est ultricies integer quis auctor elit sed. Tortor pretium viverra suspendisse potenti nullam ac tortor. Viverra orci sagittis eu volutpat odio facilisis mauris sit amet. Consectetur a erat nam at lectus urna. Senectus et netus et malesuada fames. Tincidunt arcu non sodales neque sodales ut. Nibh praesent tristique magna sit amet purus gravida quis. Ultrices neque ornare aenean euismod elementum nisi quis. Potenti nullam ac tortor vitae purus faucibus ornare suspendisse. Velit egestas dui id ornare arcu odio ut sem. Amet nisl suscipit adipiscing bibendum est ultricies integer quis auctor. Enim sit amet venenatis urna. Nunc sed blandit libero volutpat sed cras ornare arcu. Pellentesque dignissim enim sit amet venenatis urna.

Andrew Stafford

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