While busy with the holidays, clearing space in your schedule for some final year-end tax planning could help reduce your 2013 tax bill. Here are six last-minute maneuvers to consider:
- Take charge of charitable donations
- Balance investment holdings
- Secure college tax breaks
- Take required IRA distributions
- Consider a Roth conversion
- Make flexible spending account decisions and appointments
The Weaver newsletter article Wrap Up Last-Chance Tax Breaks for 2013 discusses each of these strategies in depth. Take a look and begin planning now because once the clock strikes midnight for 2014, these tax breaks will be gone.