What many don’t understand is that the interest earned on savings accounts is taxable. And so are the capital gains on some municipal bonds.

I wanted to take this final Tuesday of 2008 to talk about another terrible, time-sensitive ”t”…taxes!
As the tax year comes to a close fund managers sift through their portfolios and decide what to throw away and what to keep. Individual investors ought to do the same thing. Converting a few paper losses into realized losses can give you a tax credit! 

Realized losses can be used to offset capital gains or reduce your taxable income base, but this does not mean that you should sell everything.
Here are a couple of things you should know before you sell:
1. There is an annual limit to the tax credit - The maximum write off per …read more