Top 8 Year-End Tax Tip

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1. Defer your income


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


7. Check IRA Distribution

8. Watch your flexible spending account

Monitor your flexible spending accounts.

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