6. You Took Advantage of “Tax Loss Harvesting” for 2025 Tax Refund
“Tax loss harvesting” is a practical plan for reducing tax liability. In this strategy, you sell investments that have lost value to offset gains made on other investments. This strategy may reduce the taxes on capital gains, which may lead to a larger refund. Any losses in taxable accounts from investments make this strategy even better.
What to Do: Review your taxable investment accounts to see if any investments have lost value. If so, consider selling them to offset gains.
Action Needed: Consult with a financial advisor to understand how tax loss harvesting could work for you and how to implement it best.
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