If you don’t love overpaying in taxes every year…👇🏼 ⠀⠀⠀⠀⠀⠀⠀⠀⠀ It’s extremely important to learn the basics of how to keep taxes to a minimum inside of your investments ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Tax loss harvesting is a common way to be able to report a “lower” amount of gains, which can end up in less taxes that you owe come tax time ⠀⠀⠀⠀⠀⠀⠀⠀⠀ In a nutshell, it involves you selling investments at a loss to use said losses as a “write off” against the gains that you lock in ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Here’s the “order of operations” for tax loss harvesting: ⠀⠀⠀⠀⠀⠀⠀⠀⠀ 1) Calculate the gains you’ve locked in ⠀⠀⠀⠀⠀⠀⠀⠀⠀ 2) Calculate the losses you’ve locked in ⠀⠀⠀⠀⠀⠀⠀⠀⠀ 3) Subtract your losses from your gains ⠀⠀⠀⠀⠀⠀⠀⠀⠀ If you still have losses remaining after subtracting them from your gains, you have what’s called a “net capital loss” ⠀⠀⠀⠀⠀⠀⠀⠀⠀ In the case that you have a net capital loss for the year, up to $3k of the “remaining” losses can be deducted from your gross income ⠀⠀⠀⠀⠀⠀⠀⠀⠀ And if you still have losses rema...