{"id":315,"date":"2025-04-08T16:19:35","date_gmt":"2025-04-08T16:19:35","guid":{"rendered":"https:\/\/dailycrowd.io\/?p=315"},"modified":"2025-04-08T16:19:35","modified_gmt":"2025-04-08T16:19:35","slug":"now-tech-novices-can-evade-taxes-like-a-former-governor","status":"publish","type":"post","link":"https:\/\/dailycrowd.io\/?p=315","title":{"rendered":"Now Tech Novices Can Evade Taxes Like a Former Governor"},"content":{"rendered":"<div class='booster-block booster-read-block'>\n                <div class=\"twp-read-time\">\n                \t<i class=\"booster-icon twp-clock\"><\/i> <span>Read Time:<\/span>1 Minute, 39 Second                <\/div>\n\n            <\/div><p>If Mitt Romney truly didn&#8217;t pay taxes for even one of the ten years that Harry Reid claims, he may have accomplished this by using a technique known as &#8220;tax-loss harvesting.&#8221; This legal strategy is not exclusive to the wealthy; those with investment portfolios in the six-figure range can employ it as well.<\/p>\n<p>Wealthfront, an automated investment management service catering to young tech professionals experiencing financial windfalls from IPOs, is unveiling an automated tax-loss harvesting service for clients with a minimum of $100,000 in their accounts. Once regarded as a complex tactic employed by elite accountants for the ultra-rich, tax-loss harvesting is actually a straightforward approach to reduce tax obligations.<\/p>\n<p>Imagine you own shares in two mutual funds. If one appreciates and you sell it for a profit, this is classified as a capital gain. Conversely, if the other fund depreciates, you sell that one too.<\/p>\n<p>Now, you might wonder, isn&#8217;t the common wisdom to &#8220;buy low, sell high&#8221;? Here&#8217;s where it gets interesting: When you sell the underperforming mutual fund for a loss, you can offset that loss against the gain from the profit-making sale. Moreover, you have the option to reinvest the proceeds from the sold shares into a different fund of similar value. Effectively, you&#8217;ve realized a loss without losing ownership of other shares; you&#8217;ve &#8220;harvested&#8221; the loss without sacrificing your investment.<\/p>\n<p>Wealthfront plans to utilize the same software-based methods for tax-loss harvesting as it does for managing its clients&#8217; portfolios across various asset classes including stocks, bonds, and real estate, adjusting investments as market conditions evolve. The company claims that this strategy can enhance after-tax returns by over 1 percent annually. Recently, the IRS disclosed that a small number of the nation&#8217;s wealthiest individuals paid no federal income tax, with evidence suggesting they utilized tax-loss harvesting strategies. Now, even those with a modest portfolio can benefit from techniques traditionally reserved for the wealthiest tier.<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If Mitt Romney truly didn&#8217;t pay taxes for even one of the ten years that Harry Reid claims, he may have accomplished this by using a technique known as &#8220;tax-loss harvesting.&#8221; This legal strategy is not exclusive to the wealthy; those with investment portfolios in the six-figure range can employ it as well. Wealthfront, an [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":316,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news"],"_links":{"self":[{"href":"https:\/\/dailycrowd.io\/index.php?rest_route=\/wp\/v2\/posts\/315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailycrowd.io\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailycrowd.io\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailycrowd.io\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailycrowd.io\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=315"}],"version-history":[{"count":0,"href":"https:\/\/dailycrowd.io\/index.php?rest_route=\/wp\/v2\/posts\/315\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailycrowd.io\/index.php?rest_route=\/wp\/v2\/media\/316"}],"wp:attachment":[{"href":"https:\/\/dailycrowd.io\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailycrowd.io\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailycrowd.io\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}