Monday, March 30, 2009
We have covered some of the opportunities that a depressed economy can provide some people. What about that bank stock that you own? One possibility is selling an asset for a loss to help offset capital gains tax in the present and future. While the idea of selling an asset at a low point might make one cringe, the tax offset might be worth it. If you have a lot of nearly worthless stock, you might want to discuss this strategy with your financial planner and/or accountant.