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Some of the below strategies may also be available to you, even if youre not rich.
[Wealthy people] dont only rely on W-2 income as employees like most middle-class individuals.
Not all investment income is taxed at favorable rates, but qualified dividends and long-term capital gains are.
This tax difference can also be a motivator to invest more.
That would mean youd pay $12,000 in taxes on $100,000 in income across two years.
They have businesses, where they can control their losses and profits, Alajian said.
Yet this strategy is available to anyone with self-employment income, regardless of wealth.
Although youre generally just delaying taxes in this situation, that typically provides net benefits.
You dont have to be rich to tax-loss harvest.
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