Tax Harvesting

March 19, 2021

As all of us know, COVID 19 has brought many changes, but as the saying goes, the only thing certain in life are death and taxes. Taxes play a critical part in what we do for many clients. However, tax planning typically takes places at the end of the year, but in 2020 we were strategically trading throughout the whole year and looking for opportunities for tax loss harvesting. 

The purpose of tax-loss harvesting is to help our clients reduce taxes now and in the future. 1Tax-loss harvesting allows you to sell investments that are down, replace them with reasonably similar investments, and then offset realized investment gains with those losses. The process that we go through may be tedious, but we feel that it has extreme importance, especially during volatile markets like we experienced last year when COVID-19 pandemic created a 34% drop in the market it only 14 trading days.

If you have questions on this or anything else related to your financial wellness please feel free to contact us at 217-321-3210,,