Our client Sally runs her own business managing a bed and breakfast and several other rental properties that are in high demand. When she came to us, a family member had been managing her accounting for several years — and he’d run into some problems.

While it’s too soon to tell how the impact of the worldwide pandemic will play out in the stock market, the prognosis isn’t good. But while losses in the stock market can be stressful, they can also be used to reduce your taxes. The process is called “tax loss harvesting.”