December 22, 2014
Joseph Perry, Firmwide Partner-in-Charge, Tax & Business Services, Quoted in Reuters Article, "Sell Your Investment Losers for a Holiday Tax Present."
By Amy Feldman
In the few days left between now and year-end, when you're buying last-minute holiday gifts and making New Year's plans, you'll want to review your investment portfolio and figure out what to sell.
Consider it a way to get an extra little gift for yourself going into 2015.
It has been such a great year overall for the stock market - the Standard & Poor's 500 stock index is up more than 11 percent for the year through December 19 - you might not think there's any point in looking for losers to sell for tax purposes.
"Sometimes people don't want to face the reality that they have a big loss, but you're not doing yourself a favor by overlooking it," says Joseph Perry, partner in charge of tax services at Marcum.
"If you are looking at your portfolio without [considering]the mutual fund distributions you might be missing something," says Perry. "I'm not sure people are focused on that, and it appears that this year there are more distributions than in the past."