When you sell a capital asset like an investment or a piece of property, the sale can result in a capital gain or loss. The IRS defines a capital asset as "most property you own for personal use or own as an investment." Here are four facts you should know about capital gains:

1. A capital gain or loss is the difference between what you originally paid for the asset (your basis) and the amount you get when you sell an asset.
    
2. You must include all capital gains in your income, and you may be subject to the Net Investment Income Tax if your income is above certain amounts. Consult a qualified tax expert for help.
    
3. The IRS allows you to deduct capital losses on the sale of investment property. You cannot deduct losses on the sale of property that you hold for personal use.
    
4. If your total net capital loss is more than the limit you can deduct, you can carry it over to next year's tax return.

* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.

Tip adapted from IRS.gov[8]

H. Hugh Briss, who plays golf every weekend at the local country club, faces a 170-yard approach shot over a pond. When he's going good, Hugh can hit a 6-iron 170 yards. He selects his 6-iron. He hits it a little fat, and the ball plops into the water. Hugh, now peeved, was so confident he could reach the green.

Truth be told, Hugh was overconfident. He failed to account for a simple fact: we don't hit our regular distance all the time. Our approach shots often don't carry as far as we assume they will. When you really need to carry a hazard, take one club more than you think you might need. You might like the results. Remember, there is usually less trouble behind a green than in front of it. 

Tip adapted from Pipestone Golf[9]

Deciding to change your diet can feel daunting. It can be difficult to figure out which one is "best" for you. Many fad diets come and go, but there are a few that have stuck around, the most popular being the Mediterranean diet.

The Mediterranean diet is less of a traditional diet and more of a lifestyle shift toward healthier eating patterns. It's modeled after principles of Italian and Greek cuisine, which have remained relatively unchanged since the 1960s. Consuming this diet has been correlated with lower rates of heart disease, type 2 diabetes, and other chronic illnesses. The diet emphasizes eating more fruits, vegetables, legumes, nuts, seeds, fatty fish, whole grains, and olive oil and fewer meats and dairy products. The diet is flexible. Elimination isn't the intention, rather balance more toward nutrient-rich foods versus energy-dense ones.

Food is life, and making healthy choices can help support a healthier life. While the Mediterranean diet could be a good option for someone, no single diet will fit everyone's lifestyle, preferences, and health needs perfectly. So, be sure to discuss any dietary choices you make with your physician or registered dietitian first.

Tip adapted from Healthline.com[10]

Is your refrigerator running? If it's more than 10 years old, it may be time to upgrade with a more eco-friendly model. Besides saving money on your electric bill, you'll be reducing your carbon footprint at the same time.

The most efficient models, according to Energy Star, are refrigerators with freezers located on the top. It doesn't seem like a small change, but models with freezers on the bottom use an average of 560kWh compared to 360kWh.

The other big energy saver is to buy a model with LED lights. LED lights are roughly 80% more efficient than traditional light bulbs, which will reduce your energy consumption even further.

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Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.

Diversification does not guarantee profit nor is it guaranteed to protect assets.

International investing involves special risks such as currency fluctuation and political instability and may not be suitable for all investors.

The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general.

The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the NASDAQ. The DJIA was invented by Charles Dow back in 1896.

The Nasdaq Composite is an index of the common stocks and similar securities listed on the NASDAQ stock market and is considered a broad indicator of the performance of stocks of technology companies and growth companies.

The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) that serves as a benchmark of the performance in major international equity markets as represented by 21 major MSCI indices from Europe, Australia, and Southeast Asia.

The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market.

Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.

Past performance does not guarantee future results.

You cannot invest directly in an index.

Consult your financial professional before making any investment decision.

Fixed income investments are subject to various risks including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications and other factors.

These are the views of Platinum Advisor Strategies, LLC, and not necessarily those of the named representative,

Broker dealer or Investment Advisor and should not be construed as investment advice. Neither the named representative nor the named Broker dealer or Investment Advisor gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please consult your financial advisor for further information.

Summit Financial Group
Summit Financial Group of Indiana
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