Year-End Strategies For Smart Tax Planning

Estimate how much income you'll make and consider actions like deferring income or prepaying deductible expenses.

Income/Deductions

Contribute the maximum allowed to retirement accounts like 401(k) and IRA for tax advantages.

Retirement Contributions

Manage investments smartly to balance gains with losses for a tax-friendly portfolio.

Capital Gains/Losses

Use available credits for education, energy-efficient investments, or child-related expenses to reduce taxes.

Tax Credits

Maximize contributions to Health Savings Accounts and use remaining Flexible Spending Account balances before they expire.

HSA/FSA

If you have a business, review and accelerate deductible expenses.Take advantage of Section 179 deductions for business equipment purchases.

Business Expenses

 Seek guidance from a tax professional or financial advisor for personalized strategies based on your unique situation.

Professional Advice

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