VIDEO: When to harvest tax losses

Most advisors wait until the end of the year to harvest tax losses. But by that time, the losses may have disappeared — and the tax-planning opportunities with them.

PWL Capital advisor Justin Bender says you can harvest tax losses anytime there is a $5,000 loss on the security. That loss should constitute at least 5% of the initial purchase price.

Watch this video for his explanation.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.