Tax loss harvesting helps offset gains by selling investments at a loss, reducing taxes in taxable accounts. Retirement accounts like IRAs and 401(k)s are tax-favored and don’t require this strategy. For maxed-out retirement savings, consider taxable accounts. Consult financial advisors to navigate tax loss harvesting effectively and avoid costly mistakes. Need guidance? Contact our Whitaker-Myers team to optimize your investment strategy.

Tax loss harvesting is the strategy of selling investments at a loss to offset capital gains and reduce your tax bill. Understanding capital gains brackets—especially with the 2025 thresholds—can help retirees and middle-income earners potentially avoid taxes altogether. Timing and spreading gains across years, as well as offsetting with losses, can maximize savings. A financial advisor can help tailor strategies to fit your income and goals.

Starting my career in 2007 had its many blessings and challenges. I remember as we headed in the Great Financial Recession (“GFC”), I...