David A Rivas CPA, LLC

Tax Tip

Capital Gains and Tax-Loss Harvesting –

Long-term capital gains rates are favorable to ordinary income tax rates, so be mindful of holding investments less than 12 months. Additionally, consider selling poorly performing investments to help offset any current year realized gains.

Tax Tips

Estimated Payments – The final estimated payment (Q4) is due January 16th, 2024. If you receive significant income not subject to withholding (business income, investment income, etc.), consider making an estimated payment to avoid underpayment penalties.

$$$$ House Bill 162, gives a refund of up to $250 to single filers, up to $375 to single adults who head a household with dependents and up to $500 to married couples filing jointly. You must have filed taxes in 2021 and 2022 to qualify.

Tesla has dropped prices again!! Model Y performance is down to $53,990 and still qualifies for the $7,500. Do you plan to get one?