How To Turn Stock Losses Into Tax Savings and Other Ways To Trim Your Tax Bill


We often feel helpless when watching interest rates climbing or stocks falling. The sense of no control over such events can be rather frustrating. Another financial pain point that significantly impacts our budget is taxes. As much as it may feel that we lack control in this aspect as well, it is not entirely true. Whether you typically get a refund or owe a tax bill, there are several moves to consider to increase your chances of tax savings. 

Recently, our CEO Marianela Collado shared her thoughts on this topic with CNBC. “If you sold real estate for a significant capital gain, you’re able to use losses from a [stock] portfolio to offset the capital gains related to the sale of the real estate. This is just one of the moves to consider making before the end of the year to make sure you can lock in those potential tax savings. Marianela also shared that “the time to do tax planning is before the year has come to a close, because it is going to be your last opportunity.”

To find out if these moves are right for you, reach out to our advisors who will be happy to help. 

Watch how investors can turn stock losses into tax savings here: https://cnb.cx/3CC48Qo 

Reach the full article on ways to trim your tax bill here: https://cnb.cx/3EpCkzY 

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