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Top 11 Ways To Cut Your Taxes This Year

Long-term capital gains are taxed at a lower rate, so take advantage of them at every opportunity — for example, by reinvesting dividends or selling losing stocks to offset capital gains for tax purposes. Losing stocks should be sold before the end of the year to take advantage in that particular year. Consulting a tax professional or online financial advisor may be useful here. Explains Betterment Head of Tax Eric Bronnenkant, “With your taxable investment, what we call a Non-Retirement Account, Betterment offers something called Tax Loss Harvesting, to make sure that we’re capturing any losses that exist, to use against other gains that you might have in any given year.”

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This article originally published February 22nd, 2018 on MoneyTips