Plan All Year, Not Just at Year-End

• Review projections quarterly and update for major life changes.
• Coordinate tax decisions with investment and retirement planning.
• Adjust withholding or estimated payments before deadlines.

Timing Income and Deductions

• Consider deferring income or accelerating expenses when appropriate.
• Bundle deductible expenses to maximize itemized deductions.
• Track charitable giving and plan larger gifts strategically.

Retirement and Health Accounts

• Maximize contributions to 401(k), IRA, and HSA accounts.
• Use employer matching and catch-up contributions if eligible.
• Evaluate Roth vs. traditional contributions based on tax rates.

Investment Tax Strategies

• Harvest losses to offset gains and manage taxable income.
• Use asset location to place tax-inefficient assets in tax-advantaged accounts.
• Plan holding periods to qualify for long-term capital gains rates.

Business Owner Considerations

• Review entity structure and compensation strategy.
• Coordinate retirement plan options for owners and employees.
• Track deductible expenses and maintain clear documentation.

These tips are general in nature. Confirm any strategy with your tax professional based on your situation.