The year is coming to a close and that means it is time to make some financial risks. Making end of the year moves can mean some big gains if you make the correct ones. There are some good tips to live by if you want to make December a profitable month. This month is never a time to buy a mutual funds. The rates are just not worth the risk. Also differing your income, or picking winners and losers are important at the end of the year. You want to start the new year off in the right foot, end this one by making good financial decisions. Make the New Years yours, by ending this year strong. Follow these tips today.
- 1If you are self-employed or a consultant, you have more control over when you bill customers and therefore can defer income more easily than if you are an hourly or salaried employee.
- 2Tax loss harvesting, or selling stock that has declined in value to realize a tax loss, is an optimal strategy at year end.
- 3Tax loss harvesting enables you to offset all investment losses against your investment gains, thereby lowering your tax bill.
If you are self-employed or a consultant, you have more control over when you bill customers and therefore can defer income more easily than if you are an hourly or salaried employee.
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