End of year tax planning and financial inventory

There can be a lot to consider when it comes to tax planning and getting everything in order to get the best tax outcome you can. We discuss these and many other things you can do to protect and grow what savings you have.

Here are a few highlights we talk about in this episode:

1. If you’re over 72 and have an IRA many companies require you to file for your Required Minimum Distributions before December 15 to avoid a penalty.
2. Now is the time to determine your deduction situation
3. Also, determine what tax bracket you’ll be in
4. Decide if there are any optional expenses you could use to reduce your tax liability.

Click the play button in the window above to listen to this episode.