Tax Loss Harvesting
Tax loss harvesting allows you to sell stocks or funds at a loss to offset capital gains, reducing your taxable income. While there's a $3,000 limit on losses that can be deducted against ordinary income, this cap doesn't apply when offsetting capital gains. If you have a significant capital gain, you can utilize larger losses to minimize your tax burden effectively. Understanding these strategies can lead to substantial savings during tax season.In this clip
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155R | Year End Tax Planning
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