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  • John Parmigiani

Be Sure To Do This Before Its Too Late !

As year end approaches you're either super busy or totally chill . Either way if you haven’t done this already, be sure to take a few minutes to complete this task by tomorrow 4 PM EST, or you may wish you did.

I am obligated to preface this last minute reminder by saying, “ I am not qualified to give tax advice and you should consult with your tax professional.”

And now that that’s out of the way let’s get cracking.

"If I am Curt with you its because time is a factor."

Check all of your accounts to see how much you have booked in capital gains this year. Log in, go to realized gains and losses and write down that number. If you do not have any losses carried forward from previous years, you’re going to have a tax bill.

(Check your tax return tonight or with your accountant TOMORROW if you don’t know off the top of your head).

EVEN worse, if you have unrealized losses that negate those gains and don't realize them in 2016, you'll likely have a tax burden on money that you didn't even make.

If you are in this situation: "Think fast, act fast and you're gonna need to move FAST, if you wanna get out of this"

Go back to your portfolio, and place orders to sell the losers before the market closes on December 30th. Ill get into the psychology surrounding the reluctance of selling losers another time. One of the biggest reasons is hope, and hope isn’t a tactic.


Taking losses is part of investing. Paying capital gains on money that you technically didn’t make is a lesson you do not want to learn the hard way.


Here is a link from Investopedia that pretty much sums it up:

http://www.investopedia.com/articles/stocks/08/capital-losses.asp 

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