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BMM ArticlesA Wealth of KnowledgeVideo GalleryThe Retired Advisorwith Bill Schmick

Tag: Tax-loss harvesting

Turning lemon returns into lemonade in the S&P 500

May 20, 2022May 20, 2022 by Allen Harris

From Point A to Point B, the S&P 500 stock market index is essentially flat from roughly one year ago. That’s the good news. I mean, it ain’t great news, but that still leaves the index up about 35% from two years ago. But still … ugh! The S&P 500 stock market is off to its worst start to a new year since 1939. From peak to trough, it’s been down 17.8% (possibly more by the time you read this). Talk about leaving a sour taste in your mouth! When the stock market drops, it’s an opportunity to sell investments…

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How to save money with tax-gain harvesting

October 11, 2021October 11, 2021 by Allen Harris

Tax-gain harvesting is an opportunity to convert a long-term taxable gain into a potentially tax-free cost basis. Readers are probably familiar with tax-loss harvesting. Tax-loss harvesting is a form of tax planning. It’s the process of selling some investments at a loss, usually to offset gains you’ve realized when selling other assets at a profit. The losses can offset the gains, thereby reducing your tax bill. As the owner of a financial advisory firm (Berkshire Money Management), tax-loss selling is not an unfamiliar practice to me. Not only do I appreciate it because it reduces tax obligations, but I like…

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Tips for the 2021 Tax Season

February 8, 2021February 8, 2021 by Nichole Dupont

Preparing for the 2021 Tax Season How a financial advisor can help you manage your taxes this year  Reducing your tax burden can help you manage your wealth and free up money to meet your financial goals and build your legacy. But tax rules are complicated, and you may need help understanding all the methods you can use to minimize your tax burden. Your financial advisor is one resource you can tap to help you develop strategies that fit your plan and reduce your tax exposure in 2021. Here are four ways they may be able to help. Tax-deferred accounts…

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