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Category: #Finterms

#Finterms: Transitory Inflation

Central bankers used the term Transitory Inflation to explain a series of rapid price increases following the Covid-19 Pandemic. Inflation readings nearly doubled from 2.6% in March 2021 to 5% just two months later. Price increases eventually peaked at 9.1% in June 2022 before gradually decelerating.

#Finterms: Tax-Loss Harvesting

Tax-loss harvesting is a strategy employed by investors to minimize capital gains taxes by selling losing investments to offset gains. This practice involves intentionally selling investments that have experienced a loss in order to offset the capital gains realized from other investments. By doing so, investors can reduce their overall taxable income and, consequently, lower their tax liability.

#Finterms: Massachusetts Millionaire’s Tax

The Massachusetts millionaire’s tax is a 4% surtax on taxable income over $1,000,000. The tax became effective in 2023 and made Massachusetts one of the highest taxed states in the nation. Connecticut, Maine, New Jersey, New York, and Washington D.C. all have similar surtaxes.

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#Finterms: Transitory Inflation

#Finterms: Tax-Loss Harvesting

#Finterms: Massachusetts Millionaire’s Tax