Tax-Loss Harvesting: Maximize Your Investment Returns

January 31, 2023Resources0 comment

Tax-loss harvesting is a tax-saving strategy used by investors to offset taxable capital gains by selling investments that have decreased in value and recognizing the loss on their tax return.


Here are the key points to understand about tax-loss harvesting:

  1. Timing: Tax-loss harvesting should be done before the end of the year to take advantage of the tax benefits in the current year.
  2. Capital losses: When you sell an investment at a loss, you can use the loss to offset capital gains from other investments. If you have more losses than gains, you can use up to $3,000 of excess losses to offset other taxable income.
  3. Wash-sale rule: To avoid violating the wash-sale rule, investors cannot repurchase the same or substantially similar security within 30 days before or after the sale.
  4. Portfolio rebalancing: Tax-loss harvesting can also be used to rebalance a portfolio, by selling underperforming investments and buying those that are aligned with the investor’s long-term goals.
  5. Professional advice: Tax-loss harvesting can be a complex process and seeking professional advice from a financial advisor or tax professional can be beneficial.

By implementing tax-loss harvesting, investors can effectively reduce their tax liability and maximize their investment returns. As always, it’s important to consider your own financial situation and consult with a professional before making any investment decisions.

Can Tax Loss Harvesting Improve Your Investing Returns?

Yes, tax-loss harvesting can improve your investing returns. By using this strategy, you can offset taxable capital gains by selling investments that have decreased in value, and recognizing the loss on your tax return. This can effectively lower your tax liability, freeing up more money for investment. Additionally, tax-loss harvesting can also help you rebalance your portfolio, by selling underperforming investments and buying those that align with your long-term goals. However, it’s important to seek professional advice and consider your own financial situation before implementing tax-loss harvesting.

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What Is The Best Way To File Business Taxes?

January 30, 2023Resources0 comment

When it comes to filing business taxes, there are several factors to consider to ensure the process is efficient, accurate, and in compliance with tax laws.

Here are some tips to help determine the best way to file your business taxes:

  1. Consider the size and complexity of your business: For smaller, less complex businesses, tax preparation software or manual filing with paper forms may be sufficient. However, for larger or more complex businesses, it may be beneficial to hire a tax professional or accountant who has expertise in tax laws and can help ensure all applicable deductions and credits are claimed.
  2. Stay organized: Keeping accurate and up-to-date records of all financial transactions is essential to ensure a smooth tax filing process. This includes maintaining records of income, expenses, and other financial transactions throughout the year.
  3. Utilize tax preparation software: Tax preparation software can simplify the tax filing process and reduce the risk of errors. These programs typically include features such as calculating tax liabilities, preparing and filing tax forms, and providing guidance on tax laws and regulations.
  4. Understand tax laws and regulations: It is important to have a good understanding of tax laws and regulations that apply to your business, as well as the filing deadlines and requirements. Staying informed of changes to tax laws can help ensure that you are in compliance and avoid any potential penalties or fines.
  5. Consider the cost: Hiring a tax professional or using tax preparation software can be expensive, so it is important to consider the cost and weigh it against the potential benefits, such as reduced risk of errors or increased efficiency.

Ultimately, the best way to file business taxes will depend on the specific needs and circumstances of your business. It is recommended to carefully consider all of the factors and options available to determine the best approach for your business.

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EDUCATION: Student Loan Forgiveness

January 20, 2023Resources0 comment

In August 2022, President Biden announced plans to forgive up to $20,000 for eligible federal student loans. While student loan forgiveness is great news for your finances, it could affect your credit scores.

If there’s still a balance on your student loan after you receive your student loan forgiveness, you likely won’t see a major change in your credit scores.

However, if the student loan forgiveness pays off one of your loans, you may notice a small drop in your credit scores. This is normal and often happens when an account closes. Most people won’t be affected by this temporary drop, but it’s something to keep in mind if you’re planning to apply for a mortgage or loan soon.

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Pay Bills By Credit Card

January 3, 2023Design Finances0 comment

Use Your Credit Card To
Pay For Almost Anything

Pay your big and/or small bills with Clade Point–payment platform which lets you maximize the accruement of your credit card reward points.

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Build Better Credit While Using Your Card To Pay

  • Rent
  • Mortgage
  • HOA payments
  • Tuition
  • Auto loans/Car Payments
  • Utilities
  • Technology services
  • Club memberships
  • Taxes
  • And More
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