Lower Your Taxes with Strategic Loss Selling

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Harvesting Tax Losses

Written by Daniel Krolikowski, Partner at Withum

Tax loss harvesting is an income tax planning strategy that involves selling investments at a loss with the intent to offset capital gain income. This strategy is beneficial to taxpayers who have large capital gain income and are seeking ways to lower their related income tax liability. It is important to note that any tax harvesting must be implemented prior to the end of the applicable tax year, which is December 31st for individual taxpayers.

Any capital losses harvested will be first used to…

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