Top 8 Year-End Tax Tip
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1.
Defer
your income
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Income is taxed in the year it is received—but why pay tax today if you can pay it tomorrow instead?
For example, contributing to charity is a great way to get a deduction. And you control the timing
2. Take some last-minute tax deduction
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3. Beware of the Alternative Minimum Tax
Watch out for the Alternative Minimum Tax
4. Sell loser investments to offset gain
5. Contribute the maximum to retirement account
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6. Avoid the kiddie tax
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7. Check IRA Distribution
8. Watch your flexible spending account
Monitor your flexible spending accounts.
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