The U.S. government charges capital gains tax on most investment gains, but it gives you a handful of opportunities to limit or avoid taxes with tax-free and tax-advantaged accounts. Follow along to learn more about where you can restrict your fees and stretch your investment gains even further.
The IRS comes knocking whenever you make money. This is true even when you make money from your investments. You must pay capital gains tax when you sell your investments at a profit. That’s part of life. However, you can reduce what you owe. You just need to take certain steps to offset your gains. Here’s what you need to know about offsetting some of your capital gains taxes.
No one likes to pay taxes. So we investors perk up our ears if someone says we can generate returns that are really, truly, legally tax-free. Guess what – we identified not just one, but five ways you can do that.
Procrastinating is usually a bad thing… but not when it comes to paying taxes. Here’s some good news: Paying taxes is one of the rare times when “putting it off” can actually be a good strategy. If you are making enough to save some money (and everyone should do so, even if it is just a small amount each month), you need to know how taxes will affect your savings over the long run.
Chances are you’ve seen the term “tax loss harvesting” if you’ve read about popular robo advisors such as Wealthfront and Betterment. Both of these services offer it as a feature. But what exactly is tax loss harvesting, or TLH, and how can it help your investment portfolio?
The deadline for filing your taxes is looming… and if you’re like many fellow Americans, you’ve put off this tedious chore to the last minute. In fact, the IRS estimates that as many as 25% of taxpayers wait until April to file. But that doesn’t mean you need to do a haphazard job.
It’s that time of year again. Millions of Americans have begun receiving their tax refund checks. And these refunds seem to be burning holes in everyone’s pockets. Vacations are being booked… large-screen TVs are being bought… and a tattoo artist I know is working around the clock. But this year, instead of taking a cruise or getting some new ink, why don’t you invest your refund toward your future?
It’s that time of year again… No sooner do you finish nursing off your New Year’s hangover than it’s time to start thinking about filing your taxes.
Investing in and of itself can be a complicated endeavor. There are issues that you’ll need to address — what to invest in, what types of accounts are available to you and how much to invest in various types of vehicles such as stocks, bonds and cash. These decisions are all important parts of setting your investment strategy.