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Your email address will not be published.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 happy couple shopping with a full cart at a warehouse club in 2026. Top 10 Sam's Club Deals You Can't Ignore in 2026
  • A couple shopping for high-end deals at a modern warehouse store. 12 Costco Deals Shoppers Are Jumping on for 2026
  • A high-end desk setup with a Social Security card and a gold pen, representing presidential financial benefits. Is Trump on Social Security? A Look at Presidential Benefits
  • A person thoughtfully choosing a card from their wallet at a checkout counter. 5 Places to Avoid Using Your Debit Card and 3 Safe Spots
  • A mature couple looking at a tablet together on a sunny patio, appearing confident about their financial future. Married or Divorced? Don't Miss This Social Security Tip That Could Increase Your Checks
  • A confident woman working on her taxes at a bright, organized home office desk. IRS Alert: 6 Mistakes That Could Inflate Your Tax Bill
  • A woman looks thoughtfully at a tablet in a modern kitchen, representing financial planning for rising costs. Unfortunately, We'll Pay More for These 6 Things in 2026
  • A woman smiling at her phone in a bright living room with a delivery package on the table. The Best Amazon Prime Perks You Should Be Using in 2026
  • A woman smiling at her phone in a bright kitchen, representing the relief of receiving a tax refund. When Will Your 2026 Tax Refund Arrive? IRS Timeline Explained
  • A shopper looking at a grocery checkout screen with the New York City skyline in the background. 10 US Cities Where Grocery Prices Are Highest in 2026

Newsletter

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

Related Articles

retirement

10 Ways to Cut Down on Taxes in Retirement

Retirement is meant to be easy, but with inflation rising, the overall situation is more…

Read More →
IRS refund

13 Ways to Get Your IRS Tax Refund Faster Than Ever

Hire a professional You might want to consider hiring a tax professional to make sure…

Read More →
new 2024 tax plan

Biden Proposed a New 2024 Tax Plan (and You Should See It Now)

We think it’s best to start with what most taxpayers are interested in, and that’s…

Read More →
IRS refund

Tax Refund Alert: Americans May See a $1,000 Increase in 2026

Are 2026 Tax Refunds Really Expected to Be the Largest Ever? According to a House…

Read More →
companies credit card

15 Companies That Will Take Care of Your Student Loans

Two smiling professionals review company benefits on a tablet while sitting in a bright, modern…

Read More →
Stimulus Check

These 18 States Are Sending Out Stimulus Checks Now!

1. Colorado – Bonus Payments of $750 Citizens of the state of Colorado who filed…

Read More →
expenses to say goodbye to Kamala

American Economy if Kamala Harris Wins: A Breakdown

A shopkeeper and customer share a warm moment, illustrating the small businesses that drive community…

Read More →
social security, Social Security task

Who Will Receive Social Security Payments on March 11, 18, and 25?

2026 Social Security Payment Dates: Birth Date‑Based Schedule The Social Security Administration (SSA) sets benefit…

Read More →
tax tricks

8 Tax Tricks Rich People Use—and They Work!

Professionals brainstorm financial plans over coffee and pastries, unlocking the tax-saving secrets that help the…

Read More →
The Money Place

Make money work for you!

Inedit Agency S.R.L.
Bucharest, Romania

contact@ineditagency.com

Explore

  • Subscribe
  • Unsubscribe
  • Newsletter
  • Terms and Conditions
  • Do not sell my personal information
  • Privacy Policy
  • Contact

Categories

  • Budgeting
  • Personal Finance
  • Shopping
  • Taxes

© 2026 The Money Place. All rights reserved.