Year End Tax Planning for Capital Gains and Losses

book-1112467_1280We are at the time of year when many investors are considering year-end tax planning for capital gains and losses.  With the election of Donald Trump and Republican majorities in both houses of Congress, the likelihood of tax law changes in 2017 has significantly increased. If any of these proposals are enacted, this will most likely result in lower capital gains taxes in 2017. Thus, the general rule would be to recognize your capital losses this year and postpone your capital gains until 2017. However, there are some exceptions to this general rule.

 

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RotenbergMeril is a CPA firm with offices in the NY/NJ Metropolitan Area. According to both the NJBiz Journal and New Jersey Business Magazine, we are ranked as one of the top accounting firms based in Northern New Jersey, servicing clients across the USA and worldwide. The firm is PCAOB registered and a member of both the Center for Public Company Audit Firms, the Employee Benefit Plan Audit Quality Center, and the Forensic Valuation Services (FVS) section of the American Institute of Certified Public Accountants. RotenbergMeril has a dedicated Litigation.