One of the smartest things you can do as an investor…👇🏼 ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Is to learn how to reduce the amount of $ you lose out on to taxes ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Tax loss harvesting is one of the most common ways to reduce the tax impact your investments can have on your wealth ⠀⠀⠀⠀⠀⠀⠀⠀⠀ In a nutshell, it involves strategically selling investments at a loss to use said losses as a “write off” against other gains in your portfolio ⠀⠀⠀⠀⠀⠀⠀⠀⠀ It’s important to know that tax loss harvesting can only be done in taxable accounts (not tax advantaged accounts like IRAs, etc) ⠀⠀⠀⠀⠀⠀⠀⠀⠀ And you also want to make sure you avoid the wash sale rule when doing any tax loss harvesting so you don’t lose the ability to write off certain losses in your portfolio ⠀⠀⠀⠀⠀⠀⠀⠀⠀ While the main benefit of tax loss harvesting is the ability to report a lower amount of capital gains in your portfolio for the tax year, you may be able to use some of your losses against your gross income ⠀⠀⠀⠀⠀⠀⠀⠀⠀ That amount is currently cappe...