We recommend individuals take care of these tax helping tasks before December 31. Contact us in you have any questions.
- Contribute the max to your retirement account
- Take capital losses to cancel out capital gains
- Use up the money in your FSA
- Get added deductions for prepaying (property tax, estimates, medical bills)
- Give to charities
- Avoid penalties – take your required minimum distribution
- Be generous – make tax free gifts
- Consider paying up on college tuitions (restrictions apply)