To Top
Login to DV Client Portal
Login to Schwab Alliance
Send secure files to Art Dinkin
Send secure files to Ihla Oertwig

Fiduciary

We provide the highest level of care and accountability. Everything we do must be in your best interest.

Complete Transparency

No magic tricks or distractions. Everything we do is transparent. Log into our online system to see your accounts any time, from any device, no matter where you may be.

Experienced

We have been serving client needs for over 30 years which means we probably have experience in situations like yours.

Local & Available

We are not a large institution. We are your neighbors who happen to offer financial expertise. When you call, we answer. When you need someone, we are here.

Different People. Unique Needs

Some people need help accumulating and growing wealth. Others need assistance with the responsibilities wealth creates. No matter your money issues, we will help you find the solutions which best fit

Retire Confident

Retirement is a once-in-a-lifetime experience, but we have helped people retire comfortably and confidently for over 30 years. We can help you too.

Get Comfortable

We provide a safe and relaxed environment where you can be comfortable with your money.

The media provides exposure, not advice

In this age of information overload, there are an over-whelming number of financial opinions. We help you focus on your specific financial goals by using our experience and knowledge as a filter to cut through the constant noise and chatter.

It is a journey,
not a destination

No matter what your stage of life and career, we can help you. As you change and grow, we adjust so your plan continues to fit your needs.

Wealth is not determined by money

Wealth is determined by love, happiness, and relationships. The number of dollars in your account does not make you more or less than anyone else.

Investing, not trading

It is not flashy, but the long term outlook has stood the test of time. We seek to capitalize on this trend through patience and discipline rather than guessing when to zig and when to zag.

Putting it all together

All the parts of your life are connected. Getting to know you goes beyond your finances. We want to know your values, hopes, and dreams so your success is not purely financial. A life measured only in dollars can never be rich. 

You are not your neighbor

There is no magic formula that works for everyone. We have the knowledge, experience and tools to help you plan and achieve your goals.

Independence brings freedom

Our “product” is our guidance and advice, not specific investments. We are neutral and transparent when selecting the solutions necessary to implement your plan.

Simplicity

It is our job to explain your money in simple and straight-forward terms, not to impress you with jargon and investment “speak”. You can never ask too many questions. 

It takes two to tango

We provide the know-how; you provide direction and guidance. 

Blog Posts
Back
Back
 
19
Nov 2012
By Art Dinkin

Tax Harvesting: Wash Sale Rules Can Be Used To Your Advantage

Almost every culture has some kind of harvest celebration. Some of the traditions have been practiced for thousands of years. Here in the U.S, we celebrate Thanksgiving.

From a financial perspective, Thanksgiving starts many end-of-the-year activities. Now is the time to consider the tax consequences of the current year and implement any tax saving strategies. In 2007, I wrote about one one particular strategy known as tax loss harvesting. Over the last couple months I have been writing and talking about the fiscal cliff which is now the buzz in mainstream media.

But there is an interesting intersection between tax harvesting and the fiscal cliff which many people have overlooked.

The essentials of tax loss harvesting is to take investment positions which are currently worth less than you paid for them and sell them at a loss to offset other investment gains to reduce your taxable income. For example, if you have already recognized $10,000 in investment gains during the tax year you might consider selling other investments at a loss so your net income goes down, thus reducing your tax bill.

The "catch" in doing a tax loss harvest is known as the wash sale rules. The IRS says that if you sell an investment and repurchase a "substantially identical" investment within 30 days, they will disallow the tax loss.

There is a strong consensus that tax rates will be going up very soon. No one, as of yet, knows exactly how much or when, but many tax professionals are taking a different approach in 2012 and telling clients to increase their taxable income as much as possible this year as opposed to pushing it forward. The goal of this advice is to pay the lower tax rate now rather than a higher tax rate later.

The opportunity lies in the fact that the wash sale rules apply only to losses, not to gains. Suppose you own 100 shares of XYZ stock which you purchased at $20 per share and are now worth $35 per share. If you sell the stock now, you have to pay income taxes on the $15 per share gain with your 2012 tax return. If you owned the shares for more than a year it would be at long term capital gain rates, currently capped at 15%. So the strategy is to do just that, sell the stock but immediately repurchase the same shares at about the same price. You pay the tax on the $15 per share now, and going forward your taxes are based on your new $35 cost basis in the stock.

Taxes aren't always bad. Paying taxes means we have made a gain, but we may as well minimize the amount of taxes due on that gain. We would be happy to discuss this, or any other, tax or investment strategies with you.

On behalf of the entire DV Financial team, we wish you a very safe and happy Thanksgiving.

Tax strategies discussed are general in nature and not directed at any particular individual or situation. Please consult with a CPA or tax planning specialist before implementing any tax reduction or planning strategy.

Photo Harvesting by wattpublishing; used by under their requirement to link back to http://www.WATTAgNet.com

Recent Posts