Year End Tax-Loss Harvesting

ATLAS Lifestyle Planning Group (ATLAS LPG) brings you an informational mini-series, focused on a few key areas of financial planning that could help you wrap up the year with a feeling of understanding and a little more control.

PART 2:  TAX-LOSS HARVESTING

What is Tax-Loss Harvesting?  Great question!  First of all – to be clear – Tax-Loss Harvesting is a tax planning strategy that pertains to your securities and investment sales.  Therefore, it is always best to discuss this matter fully with your financial advisor and tax professional before taking any action, as both should be involved in the decision as to whether this strategy is right for you.

Tax-Loss Harvesting is a tax planning strategy that can help offset gains that would normally drive an increase in taxes.  This strategic move captures investment capital losses with the specific intent of offsetting investment capital gains in other areas of your financial life.  This is an important aspect of managing your investments and planning for the end of the year, as this has the potential to mitigate unnecessary taxes.

This method of year end planning certainly involves some high-level strategy, both surrounding the capital gains you have seen over the course of the year, and in identifying those securities and investments which may need to be sold.  Through careful consideration with your financial and tax professionals, your securities and investments sales could produce investment capital losses, offsetting your gains, and ultimately reducing your total tax.  Of course, this also creates an opportunity to invest in similar securities, to maintain your market exposure.

There are about 35 trading days left in which you could still consider Tax-Loss Harvesting as part of your 2023 Year End Planning.  Don’t miss the opportunity for further discussion with your tax and financial professionals to see if tax-loss harvesting is a strategy that would work for you.

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 This blog is intended for general informational purposes, and should not be taken as strategy or advice by ATLAS Lifestyle Planning Group (ATLAS LPG).  ATLAS LPG encourages all individuals to consult their financial professional about these or other matters which concern their personal finances or financial strategy.  If you do not have a financial advisor, or feel you may benefit from seeking the advice of a different financial advisor, please do not hesitate to reach out directly to your ATLAS office, or contact us HERE.  Your ATLAS LPG Team is always ready and happy to help, whatever your needs may be!

 Investment advisory services offered through ATLAS Lifestyle Planning Group (ATLAS LPG), a Registered Investment Advisor.  ATLAS LPG will only provide investment advisory services in jurisdictions where it is registered as an investment adviser or exempt from registration.  Insurance and annuities offered through ATLAS Risk Management Group (ATLAS RMG) CA License # 0M41231.  ATLAS LPG and ATLAS RMG are separate entities and neither provides legal or tax advice.