Episode 321 - Tax Loss Harvesting

In this episode of Beer and Money, Ryan Burklo discusses tax loss harvesting, a strategy to reduce taxes by selling investments that have lost value. He explains the mechanics of tax loss harvesting, its benefits, and the importance of working with financial professionals to align tax strategies with personal financial goals.

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Takeaways

Tax loss harvesting is a strategy to lower your taxes.
Selling investments at a loss can reduce taxable income.
It can offset profits from other investments.
Employees with stock options can benefit from tax loss harvesting.
Diversifying concentrated stock holdings can be tax-efficient.
Selling losses can hedge against future taxes.
Maximizing tax savings is vital for family goals.
Consulting with a CPA is essential for tax strategies.
Aligning financial and tax planning is crucial.
Understanding your tax situation can influence investment decisions.

Chapters

00:00 Introduction to Tax Loss Harvesting
01:59 Understanding Tax Loss Harvesting
02:57 Reasons for Tax Loss Harvesting
04:51 Consulting Professionals for Tax Strategies