Jaimin Desai's Posts | Commonstock

@jaimindesai12/16/2021

Releasing a real-time tax engine for other active investors

Hey there! I'm the founder of Reconcile, an online tax app that helps active investors (those of us that have 10+ transactions a month) keep track of our yearly tax bill and get alerts to avoid paying more than you should!

We want to give everyone the same level of tax advice that Wall St. investors and the Donald Trump's of the world get!

You can track your historical transactions and get a real-time tax breakdown throughout the year.
You can get daily alerts on tax-loss harvesting opportunities, trades at risk of wash sales, and holdings close to being taxed at lower, long-term rates.
You can simulate the tax impact of your trades before you make them.

getreconcile.com

Reconcile: Finance App for Multipreneurs

Effortlessly manage finances for your diverse ventures. Reconcile helps multipreneurs maximize profits, minimize stress, and streamline taxes.

Jaimin Desai

@jaimindesai12/15/2021

If you're confused about tax-loss harvesting or how to avoid paying so much in capital gains tax, here's what I do!

https://www.loom.com/share/352ba01902ec4ddcb31870ba8e1ce3ba

Loom

How to use your Reconcile for your capital gains taxes

Here's a video of me highlighting how the Reconcile app helps me as a stock trader better understand the tax implications of my investments.

Josh Rozin

@josh12/15/2021

This is an awesome app, can it only be used for U.S. taxes? (Asking for me and my fellow leaves 🇨🇦)

+ 1 comment

Jaimin Desai

@jaimindesai12/15/2021

Looks like every stock is open for tax-loss harvesting these days

Jaimin Desai

@jaimindesai10/14/2021

Sharing a quick reminder about wash sales since I've seen some folks here get in trouble! Wash sale losses cannot be deducted from your net gains, so it's important to avoid these violations.

Here's how to avoid them:

Don't rebuy a stock or option within 30 days of selling it at a loss.

So that means 30 days before or after selling a position at a loss, you can't have any buys.

If you're still confused or want additional clarification, happy to answer in more detail!

Pendulum Investments

@pen_inv10/14/2021

Its vital to consider how taxes will affect your returns for any given trade. Thank you for the reminder.

+ 1 comment