Sell your losers, avoid dividends and more tips to minimize your investing tax bill
Investing can be a tricky process. Knowing what to invest in, and when, and how much, can be difficult. So too can be the decision of when to leave an investment, or to stay in. But regardless of your investing acumen, minimizing your tax liabilities on investment income is key to maximizing your financial return. The most important element to sound investment strategy is to take full advantage of your Tax Free Savings Account. It’s an investment vehicle designed to encourage savings, which is why it’s tax-free.
“But one thing every investor can agree on is taxes. No one likes them. They are part of investing, but there are ways to at least keep them as low as possible. Here are five tips.”