Take Steps to Minimize Taxes on Your Investments
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Introduction
Big returns in 2024 may result in significant taxes that investors will need to pay next year. However, there are a few proactive measures that investors can take to reduce the associated tax burden.
Switch Mutual Funds to ETFs
Consider replacing some of your current mutual funds with exchange-traded funds (ETFs). Mutual funds can generate substantial year-end capital gains distributions when managers sell holdings to accommodate departing investors.
Optimize Asset Allocation and Location
Another strategy to improve tax efficiency is to evaluate and potentially adjust your asset allocation and location. Investments such as Treasurys, money market funds, and other fixed-income assets generate taxable interest classified as ordinary income on the federal level. To mitigate the tax impact, it may be better to hold such assets in a tax-deferred account.
Explore More Tax-Efficiency Tips
For additional useful tips on maximizing your tax efficiency, click on the following link: Click here for other tax-efficiency tips.
Proposed Bill on TikTok Could Impact Stock Market
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Possible Ban on TikTok Raises Stock Market Concerns
Recent developments in the House of Representatives propose giving Chinese company ByteDance approximately six months to divest from TikTok before facing a ban in U.S. app stores. If the bill successfully passes through Congress, the broader technology sector could experience significant repercussions.
Who Will Potentially Acquire TikTok?
The bill’s requirement for ByteDance to divest and sell TikTok raises the question of which companies are capable of making such a significant acquisition. Possibilities include mega-cap names like Alphabet, Meta, and Microsoft, particularly considering the regulatory obstacles encountered in smaller deals.
Relevance to Stocks with Chinese Exposure
Stocks with Chinese exposure, such as Apple and Tesla, may be affected by the bill’s passing. Both companies have already experienced declines as a result of weakened sales in the Chinese market. Moreover, potential Chinese retaliatory actions are a significant concern, although the specific targets are uncertain.
Extended Trading Hours: Notable Stock Movements
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Robinhood Sees Positive After-Hours Movement
Robinhood’s fintech stock has risen by 8% following the release of its selected monthly operating data for February 2024.
SentinelOne Experiences Decline Despite Positive Earnings
Despite posting fourth-quarter earnings and revenue that surpassed LSEG’s estimates, cybersecurity stock SentinelOne fell by 10% in extended trading.
CEO Departure Announcement Impacts Under Armour
Sportswear company Under Armour saw a minimal 1% rise in after-hours trading after announcing the departure of CEO Stephanie Linnartz.
Full List of Stocks Affected
For a comprehensive list of stocks that experienced significant movements in the after-hours session, please visit the original article here.
