Fall Tax Planning

As the crisp autumn air sets in, it’s time to shift our focus towards essential preparations for the upcoming winter season.

Contrary to popular belief, taxes are not entirely beyond your control; with thoughtful planning, you can harness this control to your advantage.

Unlike the April 15th deadline for personal IRA contributions, many tax-related decisions and actions must be taken by December – 31st. Considering that most planning strategies require some lead time for implementation, you effectively have just a month or so to address these matters.

Funding such accounts often needs to occur before the year’s end, underlining the urgency of the situation.

Furthermore, there are specific planning strategies designed to benefit business owners and high-wage earners, potentially reducing their tax bills by as much as 50%. These strategies demand careful consideration and timely execution.

For those with investments outside of tax-advantaged accounts like IRAs or Roth IRAs, it’s essential to manage these holdings in a manner. Now is the moment to review and your investment strategies.

Moreover, if you anticipate high capital gains for the year or foresee significant life changes related to retirement, such as initiating Social Security or Medicare , or – even reevaluating your health insurance through the , these aspects require immediate attention.

In sum, the present moment calls for engagement with your financial and tax matters. The window for taking control of your tax destiny is , so seize this opportunity to ensure a smooth and financially sound transition into the winter season and beyond.


Be sure to watch some of our past blogs on taxes and/or give us a call today. We have a whole team of tax experts ready to help you reduce your tax bill!

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