satoshipacioli on Nostr: Tax-saving strategies for investors: 6️⃣ Tax loss harvesting – Sell losing ...
Tax-saving strategies for investors:
6️⃣ Tax loss harvesting – Sell losing investments to offset gains or claim up to $3,000 against income. Wash sale rules prevent repurchasing the same or similar investments within 30 days, but they don’t apply to Bitcoin. This means you can sell and immediately rebuy Bitcoin to claim losses while maintaining your position.
7️⃣ Tax gain harvesting – If your income is below $47,025 (single) or $94,050 (MFJ), realize gains at the 0% capital gains rate. Repurchase the asset to reset the cost basis.
8️⃣ Roth conversions – Low-income years are ideal for converting traditional IRAs to Roth IRAs. You’ll pay taxes now, likely at a lower rate, and enjoy tax-free growth and withdrawals later.
9️⃣ Maximize HSA contributions – Contribute $4,150 (individual) or $8,300 (family) if you have a high-deductible health plan. HSAs offer triple tax benefits: tax deductions on contributions, tax-free growth, and tax-free withdrawals for qualified medical expenses.
🔟 Donor-advised funds (DAF) – Lump-sum charitable contributions to a DAF give you an immediate tax deduction while letting you distribute funds to charities over several years.
6️⃣ Tax loss harvesting – Sell losing investments to offset gains or claim up to $3,000 against income. Wash sale rules prevent repurchasing the same or similar investments within 30 days, but they don’t apply to Bitcoin. This means you can sell and immediately rebuy Bitcoin to claim losses while maintaining your position.
7️⃣ Tax gain harvesting – If your income is below $47,025 (single) or $94,050 (MFJ), realize gains at the 0% capital gains rate. Repurchase the asset to reset the cost basis.
8️⃣ Roth conversions – Low-income years are ideal for converting traditional IRAs to Roth IRAs. You’ll pay taxes now, likely at a lower rate, and enjoy tax-free growth and withdrawals later.
9️⃣ Maximize HSA contributions – Contribute $4,150 (individual) or $8,300 (family) if you have a high-deductible health plan. HSAs offer triple tax benefits: tax deductions on contributions, tax-free growth, and tax-free withdrawals for qualified medical expenses.
🔟 Donor-advised funds (DAF) – Lump-sum charitable contributions to a DAF give you an immediate tax deduction while letting you distribute funds to charities over several years.