Luna Coin is just about worthless. Other crypto coins are also struggling. Stocks may be entering a bear market. High flying stocks like Tesla are down 45 percent for the year. Amazon down 36 percent. Apple down 44 percent. If you hold stocks or crypto, chances are that you’re down a good amount for the year.
In this video, I want to cover what this means for your taxes, and how you can maybe benefit from these declining values.
Later in the video, I’ll cover the subject of tax loss harvesting, and how you can use that to optimize your tax situation, at tax time.
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Do you have questions about the Lost Money in Stocks or Luna Coin? Watch this video!? I’m an Illinois licensed, Registered Certified Public Accountant with over 25 years of experience. I’m dedicated to providing outstanding tax and accounting services to individuals and small businesses in the Chicago area.
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Disclaimer: Any accounting, business or tax advice contained in this article, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, I would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.
