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November 21, 2022 at 12:59 PM
This year has been one long roller-coaster ride for investors. Despite November’s stock market rally, the S&P 500 is still down about 17% year to date. Clients who leaned into the summer’s bear market may be seeing big gains, while others may be cutting their losses. And those who invested in the crypto market are literally seeing red.
All of this turmoil will come to head come tax time, and no doubt clients are already asking what their portfolio’s performance means for their tax bill. In fact, now is a great time to start discussing ways to discuss tax-loss harvesting.
Are you advising your clients correctly when it comes to capital gains and worthless securities? Check out the gallery for 12 important tax and financial planning questions and answers advisors should be aware of regarding such issues, according to ALM’s Tax Facts Online.
(Graphics: Chris Nicholls/ALM)
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