April is when you find out what your tax year cost you. Right now, you can still do something about it. There’s still time to review your withholding, look for tax-loss harvesting opportunities, revisit whether itemizing makes sense, plan charitable gifts, account for vesting equity, or evaluate a Roth conversion. The important thing is looking while there are still choices on the table. In this episode of Purposeful Planning, Troy Fore, CFP®, walks through the tax planning moves worth considering before year-end and how they can fit into a broader financial plan.
Sources:
• Mid-Year Tax Planning: Proactive Strategies to Reduce Your Bill Before December – Aspen Wealth Management: https://www.aspenwealthmgmt.com/resource-center/tax/mid-year-tax-planning-strategies
• Wash Sale: Avoid This Tax Pitfall – Fidelity: https://www.fidelity.com/learning-center/personal-finance/wash-sales-rules-tax
• Understanding Your Options: RSUs, ISOs, and Your Financial Strategy – Aspen Wealth Management: https://www.aspenwealthmgmt.com/resource-center/blog/understanding-your-options/
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.
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