SUBSCRIBE
Enter your Name and Email address to get
the newsletter delivered to your inbox.
Please include name of person that directed you to my online newsletter so I can thank them personally.
Rochester
1214 North Main Street
Rochester, MI 48307
(248) 601-9500
Lapeer
951 S. Main Street, Suite 3
Lapeer, MI 48446
(810) 664-4470
As the year draws to a close, taxpayers should review their finances to optimize tax efficiency. One key strategy is maximizing retirement contributions, such as contributing to an IRA or 401(k), which can lower taxable income. Charitable donations also offer tax deductions; making donations before year-end can reduce your tax liability.
Reviewing capital gains and losses allows taxpayers to offset gains with losses, minimizing taxes on investments. Consider bunching deductible expenses, like medical costs or property taxes, to surpass the standard deduction threshold.
Tax-loss harvesting involves selling underperforming assets to realize losses, offsetting gains elsewhere.
Consult with your tax professional to ensure these strategies align with your individual circumstances before year-end for potential tax savings.
Enter your Name and Email address to get
the newsletter delivered to your inbox.
Please include name of person that directed you to my online newsletter so I can thank them personally.
Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.