It’s December and you are probably thinking about the holidays and not about year-end tax planning. Who should be thinking about year-end tax planning? You’re financial advisor should be thinking about You and addressing YOUR tax situation.
One area that certainly warrants your advisor’s attention currently is where do you stand with taxable portfolio gains and losses. Depending on your tax bracket and other tax considerations, it could make sense to harvest gains or harvest losses.
Harvesting losses, also known as tax loss harvesting, is tax strategy investors utilize to reduce their tax liability on investment gains. This practice involves intentionally selling investments that have decreased in value to offset the tax liability from gains in other investments.
Tax Loss Harvesting can be a smart tax move; each investor’s situation needs to be analyzed first. Why pay taxes on gains if you can avoid doing so?
Here at Citadel Wealth Management, we take investment tax management seriously. Our goal is to help minimize taxes through the entire wealth cycle of our clients. Tax Management is an active process; it doesn’t just happen by itself.
It’s not too late to make a tax smart move or two, but time is running out. Come see us at Citadel Wealth Management, https://www.citadelwealthmanagement.com/
Check out our video on Year-end tax planning for 2025 and beyond where we cover the tax law changes in the “One Big Beautiful Bill Act” and more.
- Changes to Itemized Deductions
- Deduction for Seniors Age 65+, New!
- Expanded Child Tax Credit
- Auto Loan Interest Deduction – New!
- For 2026, the charitable deduction for non-itemizers
At Citadel Wealth Management, we are passionate about helping you minimize taxes. For a comprehensive review of your personal situation, always consult with a tax or legal advisor. Neither Cetera nor any of its representatives may give legal or tax advice.