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The stock market can be a volatile place at the best of times, but we are currently going through what is one of the worst downturns we have experienced in decades. Whenever the stock market is doing poorly, tax loss harvesting becomes a very relevant topic. So, what exactly does that mean and what can you do to protect yourself when the stock market is selling off? These are the questions I will be answering in this episode.
Listen in as I explain how your capital gains are taxed and what you should be aware of to reduce your taxes. You will learn who should be considering these tax loss harvesting strategies, what you need to have financially in order to make this work, and the best time to harvest your losses.
What You’ll Learn In Today’s Episode:
- What to do when the stock market is selling off.
- What a reverse piggy bank is and how to utilize this.
- How to manage your capital gains.
- How capital gains taxes will be levied.
- How to eliminate taxes on your capital gains.
- Who should be considering these tax loss harvesting strategies.
- The best time to do tax loss harvesting.
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