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| Kenny's Standup Sked/Shows » What is the practice of tax-loss harvesting and what are the rules tha » 11/18/2025 7:27 am |
- accountinglads
- Replies: 1
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Tax-loss harvesting is the act of selling an investment with a depreciated value to generate a loss and then investing the gain back into a similar asset to stay invested in the market. The largest exception is not to use the wash-sale rule, which disallows losses on the purchase of the same or substantially similar investment within 30 days before or after sale. The investors usually invest in ETFs or other funds in order to be invested but stay in compliance. The taxable brokerage accounts are best in the strategy, rather than retirement accounts. Tax-loss harvesting enhances the after tax performance of investment in the long term by reducing taxable gains and carrying forward excess losses.
| Kenny's Standup Sked/Shows » Tax Accounting is when businesses keep track of their taxes » 5/22/2025 4:59 am |
- accountinglads
- Replies: 2
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Tax accounting is about creating tax returns and setting up plans for paying future taxes. The rules for this treatment are set by tax authorities, not by accountants. Following tax accounting helps businesses adhere to rules, lower their liability and avoid receiving penalties. Part of personal finance is setting aside money for income, payroll and sales taxes. Correct tax accounting allows businesses to use deductions and credits properly and to accurately list their taxable income. By hiring a professional tax accountant, businesses find it much easier to stay orderly at tax season and handle decisions throughout the year.
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