4th Quarter Tax Planning

Wealth-Building Made Simple · Sep 8, 2023 · 15m

Key Takeaways: Purge your house and donate non-cash items to charity to maximize tax deductions. Consider donating underperforming stocks to charity to offset gains in the stock market. Maximize contributions to your 401(k) to save for retirement and reduce taxable income. Prepay expenses for the upcoming year, such as marketing expenses or rent, to take advantage of tax deductions. Utilize a donor-advised fund for charitable giving to receive immediate tax savings. Contribute to a Health Savings Account (HSA) to reduce taxable income and save for future medical expenses. Chapters: |…