In this episode of "Your Investment Partners," hosts Garrett and Paul explore the concept of tax loss harvesting, detailing what it is, how it works, and the types of accounts it applies to. They discuss the benefits of tax loss harvesting, especially in non-qualified accounts, and provide insights into how it can reduce taxable income by offsetting gains with losses. The conversation includes strategies for managing non-qualified accounts, the flexibility these accounts offer, and the importance of tax diversification for a robust financial plan. They also emphasize the practical steps and timing considerations crucial for effective tax loss harvesting. Tune in to learn how to maximize your tax advantages and maintain a balanced portfolio.

Key Points From This Episode

• Introduction to tax loss harvesting and its benefits
• Explanation of non-qualified accounts and their tax treatments
• Importance of having diverse account types for flexibility in retirement
• How to use losses to offset gains and reduce taxable income
• Strategies for maintaining investment positions while harvesting tax losses
• Timing considerations, especially around mutual fund distributions
• Importance of tax diversification in financial planning
• Practical steps for managing non-qualified accounts to optimize tax outcomes

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Useful Links

Garrett on LinkedIn

Paul on LinkedIn

Ascend Investment Partners