Whether we will admit it or not, all of us would like to pay the least that we possibly can in taxes, thus keeping the most of our income that we can. For those of us who have investments in taxable accounts, there is a way to decrease your tax burden. You can harvest your losses, meaning sell to realize the loss that you may currently have on a certain investment, and you can use it to deduct from your income this year and any potential capital gains that you may have for this year and beyond. Knowing how to maximize this deduction and do so in a responsible way is what I would like to share with you today. We will discuss:

1. What tax-loss selling (tax-loss harvesting) is

2. The rules to decreasing your tax burden legally via tax-loss selling

3. Things you should take into consideration before selling investments for tax reasons

Begin your path to financial freedom today: https://www.youtube.com/channel/UCjyCApAbHBN0Jtw5bAehbRg?sub_confirmation=1

Don’t forget to like, subscribe, and leave comments below as I would love your feedback. Be sure to check out my website (www.mnowithdylan.com) where you can get more information on my financial coaching services and more, the podcast of these shows if you are more of a listener than a watcher, and follow the show on any social media outlet (FB, Twitter, & Instagram) @mnowithdylan (Money’s No Object with Dylan Howell) [All links in description]. Tune in for more personal finance concepts. Don’t forget to check-in every weekday (Monday-Friday) for new videos which will be uploaded each day at 6 a.m. CDT. Thank you, guys, for tuning into this episode of Money’s No Object. I’m Dylan Howell.

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(Please keep in mind that I am not a financial advisor. I create these videos for educational purposes only. You and only you are responsible for the investment decisions that you make.)