CONTACT US
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Richard Weiner
Financial Advisor
Tropical Financial Investment and Insurance Services
Located at Tropical Financial Credit Union
3050 Corporate Way
Miramar, FL 33025
Phone: 954-517-7738
Cell: 954-401-9548
Email: richard.weiner@lpl.com
Is your portfolio in line with your ability to tolerate risk? As we begin fall, there are some end-of-year investing moves that can help tune-up your holdings.
Here’s a hypothetical example,* say you have $10,000 in gains on a short-term investment and $6,000 in losses in another investment you plan to sell anyway. If you sell the second investment, you only incur tax on the $4,000 gain on the profitable investment that’s not offset. What’s more, if your losses exceed your gains, you can deduct up to $3,000 in net losses from your total 2024 income.
Healthcare and college savings accounts may offer tax-advantaged options for year-end tax planning. If your business has a flexible spending account, you may be able to increase your contribution. Do you have a high-deductible medical plan? Fund a health savings account. The maximum contribution for an HSA in 2024 is $4,150 for an individual and $8,300 for a family. Touch base with your trusted tax and financial professionals about tax-advantaged college savings plans and other tax strategies before implementing them.
*Your situation and results may vary.
**Rebalancing a portfolio may create a taxable event if done outside of a retirement account, and asset allocation doesn’t guarantee a profit or protect against a loss, but it may help reduce volatility.
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Richard Weiner is a financial advisor with, and securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Tropical Financial Credit Union and Tropical Financial Investment and Insurance Services are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Tropical Financial Investment and Insurance Services, and may also be employees of Tropical Financial Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of, Tropical Financial Credit Union or Tropical Financial Investment and Insurance Services. Securities and insurance offered through LPL or its affiliates are:
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