Year-End Tax Planning To-Do List
A check-list of things to take care of before December 31 to make sure you minimize your tax bill:
- Sell stocks that have lost value to offset any capital gains from stocks sold earlier in the year that had appreciated.
- Make any last charitable contributions.
- Pay any outstanding estimated taxes if your automatic deductions over the course of the year are not sufficient to cover your taxes owed.
- Unplug Grandma’s respirator