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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:

  1. Sell stocks that have lost value to offset any capital gains from stocks sold earlier in the year that had appreciated.
  2. Make any last charitable contributions.
  3. Pay any outstanding estimated taxes if your automatic deductions over the course of the year are not sufficient to cover your taxes owed.
  4. Unplug Grandma’s respirator