As we approach year’s end, now may be the time to see if tax-loss harvesting could help you lower your 2023 taxes. If you have turned on the TV or followed the news, you likely know that pretty much all parts of the stock market were down in 2022.
For its part, 2023 has also been quite volatile, even though many people have seen some decent returns across their investment accounts. Even if your portfolio has gone up gangbusters over the years, you may have a few losers in the bunch, or perhaps shares of one of your big winners are currently worth less than you paid for them. Implementing a tax-loss harvesting strategy can help you reduce your overall tax bill or, at the very least, minimize the taxes on your investment gains.
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