Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.
How to minimize your investment tax bill next year Although the Trump administration's tax plan could scrap the 3.8% net investment income surtax, which could lower tax rates on long-term capital gains, clients should use strategies to reduce their tax bill, as there is no guarantee that the proposal would get Congress's approval, according to this article on U.S. News & World Report. For example, they may want to harvest losses to write off taxable gains. "In most cases, it's appropriate to harvest losses at the end of the year because you have a clear picture of what your tax circumstances will be. However, there are scenarios where harvesting losses makes sense prior to year's end," says a financial adviser.
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