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If you’ve built substantial wealth, capital gains taxes may quietly erode far more of your investment returns than you realize.

The good news? The tax code offers legitimate ways to potentially help minimize that bill – if you know where to look.

Here are three high-impact areas where strategic planning may help minimize your capital gains tax.

1. Investment-Related Expenses
Certain advisory fees, margin interest, and other investment-related costs may qualify for deductions or adjustments, depending on how they’re structured and reported.

2. Cost Basis Adjustments
Adding eligible purchase, improvement, and transaction costs to your cost basis may help minimize any taxable gain when selling investments or property. 

3. Selling Costs on Real Estate
Commissions, staging and certain closing costs tied to a property sale may be deducted from any potential gain.

Each of these opportunities may come with complex rules, thresholds, and IRS definitions.

That could be why affluent investors turn to fiduciary financial advisors and wealth managers – not just for investment management, but for tax-forward wealth strategies that may integrate with their CPA’s planning.

Wondering how to get help designing a personalized capital gains tax strategy? Try SmartAsset’s no-cost tool to find vetted financial advisors serving your area, each legally bound to work in your best interest. Get your financial advisor matches today. 

Try SmartAsset’s Financial Advisor Matching Tool

Hire a pro. Find and compare vetted financial advisors serving your area, each legally bound to work in your best interest.

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SmartAsset.com is not intended to provide legal advice, tax advice, accounting advice or financial advice (Other than referring users to third party advisers registered or chartered as fiduciaries (“Adviser(s)”) with a regulatory body in the United States). The article and opinions in this publication are for general information only and are not intended to provide specific advice or recommendations for any individual. We suggest that you consult your accountant, tax, or legal advisor with regard to your individual situation. 

SmartAsset Advisors, LLC (“SmartAsset”), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. SmartAsset’s services are limited to referring users to third party advisers registered or chartered as fiduciaries (“Adviser(s)”) with a regulatory body in the United States that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. SmartAsset receives compensation from Advisers for our services. SmartAsset does not review the ongoing performance of any Adviser, participate in the management of any user’s account by an Adviser or provide advice regarding specific investments. 

We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors.

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