Year-End Tax Moves Worth Making Before December 31

You just filed. Or you just got an extension. Either way, the dust is settling on another tax season, and most people are ready to stop thinking about taxes for a while.

That is understandable. It is also exactly the wrong instinct.

April and May are actually the best time to start planning for next year's tax situation. The pain is fresh, which means you have a clear memory of what cost you and what helped. And you have eight full months before the year closes — enough time to make decisions that matter, rather than scrambling in December when most of the options have already closed.

What to look at now.

Retirement contributions — are you on track to maximize them, or did last year reveal a gap? Tax-loss harvesting — are there positions in your portfolio that could be rebalanced with a tax benefit? Charitable giving strategies — if you give regularly, there are structures that can make those gifts significantly more efficient. Estimated payments — if you had a surprise bill this spring, adjusting your quarterly payments now prevents a repeat.

The compounding value of early planning.

Tax planning done in April affects your full-year picture. Tax planning done in December can only affect what is left. The earlier you start, the more levers you have available, and the more of your money stays where it belongs.

If this year's return surfaced anything you want to address differently, we are a good place to start that conversation.

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