Tax Loss Harvesting

Key Takeaways:

• Tax loss harvesting involves selling stocks at a loss to offset capital gains and minimize tax bills.
• The immediate tax savings from tax loss harvesting can be significant, but it is essential to consider long-term implications.
• Tax losses can be carried forward indefinitely, providing potential benefits in future years.
• Tax loss harvesting should be part of a broader financial strategy and coordinated with other investment and estate planning goals.

Chapters:

 

| **Timestamp** | **Summary** |
| ------------- | ----------- |
| 0:00:07 | Introduction and disclaimer |
| 0:00:38 | Discussion about winter weather |
| 0:02:26 | Mention of tax benefits of electrifying homes with renewable energy |
| 0:03:19 | Introduction to tax loss harvesting |
| 0:05:19 | Explanation of tax benefits of offsetting gains with losses |
| 0:06:25 | Discussion on long-term benefits and considerations of tax loss harvesting |
| 0:07:50 | Comparison of tax loss harvesting and donating stocks |
| 0:09:33 | Importance of coordinating tax loss harvesting with overall financial plan |
| 0:10:18 | Mention of minimizing tax on capital gains through donating stocks |
| 0:11:26 | Contact information for further discussion on tax planning |

 

 

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Phillip Washington, Jr. 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.