Craig Toberman gives his thoughts on common tax misconceptions to Jeff Berman in the ThinkAdvisor article “13 Things Clients Don’t Get About Taxes: Advisor’s Advice”.
"A common misconception about taxes relates to the popular strategy of tax loss harvesting. The common assertion is that any tax losses realized using this strategy should automatically be seen as "capital gains tax savings." While tax loss harvesting does lower your tax bill in that particular year, it trades the opportunity to lower your tax bill in a future year"
If you are interested in hearing more of Craig Toberman’s thoughts on financial planning that includes taking tax planning over multiple years, please book a call with him.
Craig Toberman is the Founder of Toberman Wealth – a fee-only, fiduciary financial advisor based in St. Louis. He assists families and businesses with strategic financial planning and long-term wealth management. He has over a decade of experience in financial services and has crafted custom financial plans for hundreds of families and businesses.
Craig received a Bachelor of Science (B.S.) degree in Agricultural and Consumer Economics from the University of Illinois and a Master of Business Administration (M.B.A.) degree in Finance from Saint Louis University. He is a Certified Financial Planner (CFP), Chartered Financial Analyst (CFA) charterholder, and Certified Public Accountant (CPA).
Craig is a member of the National Association of Personal Financial Advisors (NAPFA), Fee-Only Network, and XY Planning Network.
Craig lives in the greater St. Louis area with his wife, Ally and son, Hank.