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TAN Wealth Management

Tax harvesting breaks down into two forms: tax-loss harvesting and tax-gain harvesting. The goals of tax-loss harvesting and tax-gain harvesting are to reduce your overall tax liability, avoid or reduce paying taxes on your investments gains, and increase your after-tax returns.

TAX-LOSS HARVESTING- What is tax-loss harvesting?- How is tax-loss harvesting done in practice?- What is the tax benefit? - What are the benefits associated with tax-loss harvesting?- Capital losses benefit in the following order.- The disadvantages of tax-loss harvesting.- Other information we should know related to tax-loss harvesting.- Wash Sale Rules.- Tax-loss harvesting works on taxable accounts.- Common mistakes to watch out for when doing tax-loss harvesting.- Tax-loss harvesting best practice.- Capital gains and losses.- Strategy on what to do after you did tax-loss harvesting.- Summary of tax-loss harvesting.

TAX-GAIN HARVESTING- What is tax-gain harvesting?- Understanding of capital gains- How do we do tax-gain harvesting in practice?- An example via TurboTax- The benefits of tax-gain harvesting- Tax-gain harvesting best practice- The disadvantages of tax-gain harvesting- Other information we should know related to tax-gain harvesting.

TAX HARVESTING- Other information we should know related to tax harvesting.- Tax harvesting best practice.- Let’s review the materials by looking at 4 scenarios from worst to best.- Tax harvesting summary