Make money work for you!

  • Home
  • Personal Finance
  • Budgeting
  • Shopping
  • Taxes

6 New Ways Retirees Can Save on Taxes This Season

January 20, 2023 · Taxes
IRS, save
Photo by Pickadook From Shutterstock

#1 Review all your securities, stock performance, and mutual funds

Have you heard of tax loss harvesting? If you have securities, mutual funds, and stocks, you may be able to reduce your tax bill and save some money through this procedure. Tax loss harvesting is a procedure that implies selling stocks and other investments of the sort that are underperforming.

By selling this stock, for example, because it is losing you money instead of creating it, you can use the loss it created to reduce the tax that you will be hit with on your capital gains. You can end up offsetting up to $3,000 of your ordinary income if the investment you sold qualifies for tax-loss harvesting.

The best way to make sure that this method of saving money works for you is to talk with a tax professional so that they can guide you and give you an accurate action plan.

Pages: 1 2 3 4 5 6 7

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • A collage showing a person's silhouette made of shredded medical forms and a Medicaid card, with a padlock symbolizing protection. Find Out If You Were a Victim of Medicaid Fraud!
  • A minimalist ink illustration of a June 2026 calendar with the 15th circled in bold red ink and a fountain pen resting nearby. Don't Miss These Important IRS Tax Deadlines in June
  • A navy folder labeled 'Vital Financial Documents' sits on a kitchen table next to a coffee mug and a secure fireproof lockbox. The Safest Places to Store Your Financial Documents
  • An editorial collage featuring a brass compass, financial documents, a family photo, and a metal key, representing a financial roadmap. 8 Financial Details Loved Ones Need to Know
  • A senior man smiling at a laptop in a sunlit public library with books on the table and a park view through the window. 10 Simple Retirement Joys That Cost Nothing
  • A woman in her 60s reviews financial paperwork at a sunlit kitchen table, captured in a candid, documentary-style photograph. 9 Financial Perks Many Retirees Overlook
  • A person sits at a sunny kitchen table reviewing bills with a pen and coffee, embodying a proactive approach to household budgeting. 7 Household Expenses Worth Reviewing Today
  • A senior man in a knit sweater sits at a sunny wooden desk at home, organizing legal documents and folders in a quiet morning setting. 9 Things Retirees Should Put in Writing
  • A person holding a phone at night showing multiple scam notifications about packages, banks, and tolls. 9 Everyday Messages You Should Never Respond To
  • Close-up of house keys on a wooden table with moving boxes and a sold sign in the blurred background. 7 Signs It Might Be Time to Downsize

Newsletter

Get money-saving tips and personal finance advice delivered to your inbox.

Related Articles

tax

7 Random Things You Will Get Taxed For

1. Gambling Winnings Not everything that happens in Vegas stays in Vegas. That’s because gambling…

Read More →
taxes, income stealth, check

8 Surprising Things You Must Pay Taxes For

Discovering a chest of gold coins in a sunlit attic is a dream, but don’t…

Read More →
Holiday Scam

10 Holiday Tax Scams That Turn Your Ho-Ho-Ho Into Oh-No!

Gift Card Payment Scams One of the most prevalent scams involves criminals posing as IRS…

Read More →
tax deduction

Bigger Refunds Ahead? What the New SALT Cap Means

Why This Matters The SALT deduction allows taxpayers to deduct certain state and local taxes—like…

Read More →
experts stealth

Can’t Pay Your Taxes? Experts Shared 3 Solutions for You

A person writes in a notebook, outlining a strategic plan to manage tax debt and…

Read More →
ridiculous taxes

9 Most Ridiculous Things You’ll Get Taxed for

1. Window tax No. 1 on our list of ridiculous taxes has to do with…

Read More →
free tax assistance avoid

Frugal Tax Solutions: 5 Ways to File Your Taxes for Free

Every year, there is the tax season when everyone needs to file their taxes. It’s…

Read More →
death taxes

13 US States With the Highest Death Taxes

1. Connecticut Estate tax: Yes Estate tax rates: 11.6% or 12% Estate tax exemption level:…

Read More →
stealth

7 Stealth Taxes that Can Destroy Your Retirement

The 10-year payout rule Let’s discuss the latest news: the 10-year payout rule. The rule…

Read More →
The Money Place

Make money work for you!

Inedit Agency S.R.L.
Bucharest, Romania

contact@ineditagency.com

Trust & Legal

  • Subscribe
  • Unsubscribe
  • Newsletter
  • Terms and Conditions
  • Do not sell my personal information
  • Privacy Policy
  • Contact
  • Request to Know
  • Request to Delete
  • CA Private Policy

Categories

  • Budgeting
  • Personal Finance
  • Shopping
  • Taxes

© 2026 The Money Place. All rights reserved.