Let’s talk about a tax saving strategy you can employ through your portfolio management. Do you have a mutual fund portfolio worth more than $500,000? If you do, you know the big annual tax bills can be frustrating – and expensive. What if you could substantially lower these tax bills? Fort Pitt Capital Group has a solution for you. We’re offering a free analysis of your portfolio – which could reduce your taxes – and save you money. Please complete the form below or call Fort Pitt Capital Group at 412.921.1822 to get started.
As we all know the tax deadline has been extended to July 15, which not only gives us extra time to get our taxes filed but also provides an incentive to explore additional tax-saving strategies for next year. Some portfolio management strategies utilize mutual funds in a taxable account. If this is a strategy that you use, you know that year after year those mutual funds have to distribute all of their dividends and capital gains by December 31. This happens whether the mutual fund makes money or not. In some years it can be very frustrating to receive a large tax bill even though your mutual funds returned very little.
At Fort Pitt Capital Group we have done a study which showed us that a mutual fund portfolio distributed nearly twice the capital gains distributions over a ten-year period versus a portfolio of individual securities. As a firm, we have a fantastic team of portfolio managers and analysts. We manage portfolios of individual securities, exchange traded funds (ETFs), individual bonds, and mutual funds. Our preference for a taxable portfolio is to use individual securities in order to save our clients money. If you’d like to find out more about how this tax saving strategy could work for you please do not hesitate to reach out to Fort Pitt Capital Group.
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