From the course: Personal Finance Tips Weekly

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Close this year and start the next year strong

Close this year and start the next year strong

From the course: Personal Finance Tips Weekly

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Close this year and start the next year strong

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- The end of the year can be a super busy time. There's always a ton of things on our to-do list, so it's really a terrible time for the tax authorities to close their books on our financial year right at this busy time but that's what happens in many countries on December 31 when the clock strikes midnight, so make sure you have all of your bases covered. Let's go over a couple of things that you should look at before the year is done. If you're an investor, the most important tax issue you'll have to deal with is capital gains tax. This is the gain you make on an investment between the time you buy it and the time you sell it. The key here is selling it. Unless you sell an investment for a gain, there is no tax implication. At the end of the year, it's very important that you look at your capital gains. If you've racked up a lot of gains, you may want to sell off some of those investments and pay your taxes, thus resetting your capital gains clock to zero. In the US, if you've held…

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