Once the holiday season commences, we often get wrapped up in the action and overlook important year-end housekeeping items that bring tax savings in April. In this workshop, we will discuss the top strategies to keep in mind when it comes to 2022 year-end tax planning — including itemized deductions, gifting tactics, bundling methods, donor-advised funds (DAFs), tax efficiency in portfolios, and more — to ensure you do not miss out on the various tax-saving opportunities available to you.
Before Year-End: 401(k)/403(b) contributions Mortgage prepayment Roth conversion Charitable giving 529 contributions Gifting Tax-loss harvesting By April 2023: IRA/SEP IRA contributions (SEP IRA deadline may be extended with tax extension) HSA contributions Defer Income Until 2023. Accelerate Deductions. Other Tactics: Mega Backdoor Roth Inherited IRAs (non-spouse)
Click here to view & download the complete 2022 Year-End Tax Planning Strategies handout.
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