Needing More Savings From Your CPA?

Tax-loss harvesting can be a great way to reduce your tax bill, but could also come with some challenges, so most accountants shy away from it.

But what exactly is tax-loss harvesting? Simply put, it's the process of selling investments that have decreased in value in order to offset any capital gains you've had from investments that have increased in value. This can help lower your overall tax bill.

Here are a few tips for making the most of tax-loss harvesting:

Keep an eye on your portfolio: Regularly monitoring your portfolio can help you identify any investments that have decreased in value.

Be strategic: Consider which investments you should sell in order to maximize the tax benefits.

Don't forget about wash-sale rules: Prohibit selling an investment and repurchasing a "substantially identical" investment within 30 days.