Harvest Season - Talk to Your Advisor about What, If Anything, to Pick
As we get closer to the end of the year, thoughts turn toward taxes. Actions that we take now may impact tax returns filed this coming spring. Investments held less than 1 year and sold incur ordinary income taxes on the proceeds. Those held longer than 1 year may incur capital gains (the difference between what you bought it for - your basis - and what you sold it for). Capital gains tax rates for most are generally less than the rates for ordinary income. It may or may not be right to “harvest” something - and a discussion with your advisor, and your accountant, may be worthwhile at this time of year. Pick prudently!
This information is provided for general educational purposes only and is not intended as specific advice for any individual.
Seek professional advice before taking any action in regard to your finances.