asset allocation

Taking a small loss for a bigger win It’s not always a bad thing to lose money. Smart investors try to be strategic about how they do it, though. The IRS lets you offset up to $3000 of your income annually with capital gains losses. This can be applied to future years too. Just look at last year’s tax return to see what you carried forward. While losing money on an investment is disappointing, you might find taking a small loss for a bigger win makes sense come tax time. Of course, that requires some smart planning. Tax code changes are still hurting some Changes made with the 2018 federal tax code are still costing people money because individuals, and some professional providers too, don’t understand how much these can affect taxes owed. Think about this – if your joint return in 2018 showed $77,401 in capital gains, you jumped […]