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Last-Minute Moves to Shrink Your Taxable Income

| September 10, 2020
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The end of the year is approaching and as a tax payer, you may be able to make some last-minute moves to improve your financial position come tax time. By making tax-free donations or contributions to retirement accounts, you can shrink your taxable income which can equate to a larger tax refund or less owed. 

The following are some simple options you may want to consider taking advantage of by year-end:

  • Charitable gifts
  • Traditional IRA contributions
  • 401(k) contributions
  • Contributions to other retirement plans
  • Health Savings Account (HSA) contributions

Let’s talk to see if making one or more of these options could lower your tax burden come tax time.

All the best,

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