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If you've been thinking of cutting your losses and getting out of a stock, there's no time like the present. In fact, if you do it by December 24th, you can use your losses to offset capital gains on other investments.

Got a question on how to make tax-loss selling work for you? Ask Vance LeCocq, partner, tax services, at Grant Thornton LLP. He'll be online to take your questions from noon to 1 p.m. (ET) on Monday, Dec. 14. You can join the discussion when we go live by clicking on the Cover It Live box below.

Vance LeCocq is a tax services partner with Grant Thornton LLP. He has a depth of experience in providing tax and advisory services to privately held businesses and high net worth clients with a focus on corporate reorganizations, estate and succession planning, and employment compensation arrangements. He also provides practical advice in such areas as succession planning, wealth preservation and wills. Vance is a tax instructor and tutor for various professional development courses with the Canadian Institute of Chartered Accountants and the firm, and a frequent presenter on tax related matters.

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<iframe src="" scrolling="no" height="650px" width="600px" frameBorder ="0" allowTransparency="true" ><a href="" >Tax-loss selling: Ask Vance LeCocq</a></iframe>

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