While conventional wisdom often states that investments will grow over time, that isn’t always the case. Fortunately, when an investment’s return is down, there is potential for harvesting tax losses. Tax-loss harvesting may reduce your annual income tax liability. What is tax-loss harvesting? Tax-loss harvesting is done by selling a security that has a fair
Posted ByDomestic equity markets experienced their worst first half of a year since 1970 when the markets closed on June 30, 20221. The S&P 500, as an example, was down 21 percent the first half of this year. Additionally, the bond market has experienced volatility largely due to rising interest rates. Many investors understand that market
Posted ByA Health Savings Account (HSA) is a tax-advantaged medical savings account available to individuals who are enrolled in high-deductible health plans. HSAs have three main tax advantages.
Posted ByA Qualified Charitable Distribution (QCD) is a helpful tax-planning tool for those who are charitably inclined. It is a charitable donation from an Individual Retirement Account (IRA).
Posted ByThe IRS has announced that in 2022, the estate and gift tax exemption will be increased to $12,060,000 per individual, up from $11.7 million in 2021.
Posted ByThe IRS allows individuals to deduct qualified medical expenses that exceeded 7.5% of their adjusted gross income (AGI).
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