Do you hear it? That’s the sound of time running out.
We talked with financial journalist Robyn A. Friedman of City & Shore Magazine to share smart year-end tax moves that can save people money.
“It’s not too late to review your tax situation for 2019 – or too early to start planning for 2020,” writes Robyn.
Here’s 5 great tax strategies you can put into place before year-end that can slash your tax bill:
- Max out your deductions by funding workplace retirement plans.
- Cut capital gains by selling any investments at a loss.
- Set up a new retirement plan if you’re your own boss.
- Make charitable contributions to score a deduction.
- Convert funds in your traditional retirement accounts to a Roth IRA.
Want more info? Check out Robyn’s article or give us a call. We’ll be using these strategies to cut taxes for clients from now until year-end.