If It Doesn’t Glitter, It May Be Gold
Don’t despair, my friends, Corney is here.
The financial news is nothing but interesting these days.
Up and down, down and up: wow!
Are you as dizzy as I am? Harrowing is the word.
I watch the ticker running across the bottom of my TV every day trying to maintain an emotional even keel despite the minute by minute variation in the prices of my stocks.
Can you relate?
Alright, now I want you to take a deep breath and answer this question:
have you done any harvesting lately?
(And I don’t mean the tomatoes, potatoes, and avocados in your back yard.)
A little known tax loophole, to harvest your tax loss means to offset up to $3000 of your income with the excesses in your overall loss in stock investment capital.
This is a dollar-for-dollar deal and a sunlight on a rainy day kind of strategy.
Now, this thing gets more complicated than that with various exceptions, rules, and restrictions, and therefore you need an expert accountant to keep you on the straight and narrow. I mean, for now, this tax loss harvesting strategy is certainly a ray of sunshine in an otherwise stormy sea.
But, imagine how simple it would be with no taxes at all?
As a preview to a complete overhaul of the current tax system, I invite you to download my report “Done with Cash” for free, when you apply for it.
Tags: Banking Crisis, Corney's Model, Financial Crisis, Geithner, IRS, Stimulus Bill, Taxes
