A municipal bond is a debt security issued by a state, municipality, or county to finance its capital expenditure. Interest from municipal bonds are often exempt from federal taxes and in some cases, exempt from state and local taxes for residents. PNC Investments can help you find attractive municipal bonds to use in taxable investment accounts.
A taxable bond is a debt security whose return to the investor is subject to local, state, or federal taxes or some combination thereof. U.S. government bonds are generally exempt from local or state taxes.
Because of structural differences between mutual funds and ETFs, mutual funds generally incur more capital gains year over year. The ETF structure minimizes capital gains until shares are sold.
A separately managed account (SMA) is a portfolio of assets managed by a professional investment firm. SMAs generally have higher investment minimums than a mutual fund or ETF, but they provide greater transparency and control of what you own. SMAs offer tax-loss harvesting opportunities which allow the investor to offset capital gains from one investment with losses in another investment. PNCI can also provide a tax overlay service that coordinate taxes across multiple SMAs and can defer taxable gains for a period of time.
A strategist portfolio is a risk-based asset allocation model for clients and corporations. PNCI has tax-managed strategist portfolios with the objective of maximizing after-tax returns.
Fund selection is a very important step in tax-efficient investing. A PNCI financial advisor can help you design a financial plan suited for your unique investing needs.
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Neither PNC Investments nor your Financial Advisor provide tax advice. You should review your tax situation with your own independent tax professional to fully evaluate how you may benefit.
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