# @thejoserafaelhernandez on Instagram

- **Type:** Video
- **Original URL:** https://www.instagram.com/p/C_8TfVRAptJ
- **Gondola URL:** https://gondola.cc/posts/59827395-thejoserafaelhernandez-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/4b7143174a.jpg
- **Posted:** 2024-09-15T15:13:46.000+00:00
- **Account Owner:** Jose Hernandez (@thejoserafaelhernandez) — https://gondola.cc/thejoserafaelhernandez

## Caption

The more your income and wealth grow over time…👇🏼
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The more important it becomes to pay close attention to taxes in your portfolio as an investor 
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Tax loss harvesting can be a solid way to reduce the amount of taxes you owe from your investments every year
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Some important points on tax loss harvesting:
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1) It can only be done in taxable accounts (not tax advantaged accounts like IRAs, etc)
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2) The losses must be “realized” (AKA: locked in) in order for you to use them against gains that you lock in
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3) It’s important to avoid trades that result in a “wash sale” so you don’t lose the ability to deduct the losses from your gains 
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4) The example in the video is an oversimplification for the sake of making the concept simpler to understand 
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5) You should have a solid process in place that’s repeatable and simple for TLH. (Often it’s done in the 4th quarter before the tax year ends)
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Having wealth inside of taxable accounts can be a huge advantage if you’re investing for goals before age 59.5
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But it also comes with the responsibility of paying attention to the moves you’re making and keeping more of your hard earned $ (and not paying taxes for the sake of paying taxes)
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If you found this video helpful, share it with a friend and follow for more 🤝
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#investing #indexfunds #stockmarket #rothira #compoundinterest #dividends

## Stats

- **Views:** 288
- **Likes:** 21
- **Shares:** 0
- **Comments:** 0

## Tags

dividends, stockmarket, indexfunds, compoundinterest, investing, rothira

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