YEAR-END MOVE: Have your tax professional assess your AMT status. When it makes sense, you may shift certain income items to 2025 to reduce AMT liability for 2024. For instance, you might postpone the exercise of incentive stock options (ISOs) that count as tax preference items. Tip: The ...
Maxwell Locke & Ritter has outlined a few 2024 year-end tax planning ideas for investors and individuals with estate and gift planning needs. Capital Gains and Losses Investors frequently “time” sales of assets like securities at year-end to produce optimal tax results, so it’s important to...
Year-end tax planning can be especially beneficial toindividuals with uneven income streams, providing the opportunity to accelerate or defer compensation. In a lower-than-usual income year, it's often prudent to review existing traditionalIRAs and former employer 401(k) plans and work with a tax...
Year-end tax planning is not only about saving money today; it can also set you up for better financial outcomes later in life. By taking strategic steps now, you can make the most oftax benefitsand avoid penalties. While it may not sound fun to think about your taxes around...
As the end of the year approaches, our client conversations turn to how we can strategically minimize taxes. This is a collaborative effort, and a client’s role in tax planning is crucial. Together, we look at the ways they give, save, and invest, and consider how tax laws might change...
As we near the end of 2024, consider upcoming tax deadlines and opportunities that could significantly affect your returns. Although there have been few tax law changes this year, many individuals may have experienced life changes that could affect their taxes. Additionally, with this November’s ...
Year-End Tax Planning Posted Sunday, November 17, 2024 The holidays are coming and people start thinking about year-end moves to minimize their taxes. Every day between Christmas and New Year’s Day we field a zillion questions on year-end tax planning. While some ideas are great, there ...
1. Key Tax Planning Strategies Year-End Tax Planning Tips Tax Tip 1provides a snapshot of key strategies geared toward helping you achieve your planning goals. It includes ideas to help you reduce your current year’s tax as well as any potential future taxes. While this chart is not all...
From maximizing tax-advantaged savings accounts to donating to charity, you can still make strategic tax moves before year-end. Explore ways to help save on your 2024 taxes.
Financial advisors stress it's time to get serious about year-end strategies, like taxes, portfolio re-balancing and overall financial plans.