Five Tax Moves To Make Before December 31 That Most People Miss Authored by Peter Daisyme via Due , Every January, I hear the same regret from friends and colleagues: "I wish I had known about that before the year ended." Tax planning has a hard deadline, and most of the best strategies expire on December 31 with no extensions, no exceptions, and no do-overs. Five Tax Moves to Make Before December...
Five Tax Moves To Make Before December 31 That Most People Miss Authored by Peter Daisyme via Due , Every January, I hear the same regret from friends and colleagues: "I wish I had known about that before the year ended." Tax planning has a hard deadline, and most of the best strategies expire on December 31 with no extensions, no exceptions, and no do-overs. Five Tax Moves to Make Before December 31; Image Credit: Pexels I used to be one of those people who did not think about taxes until I sat down with a stack of documents in February. Then I started working with an accountant who taught me that tax planning is a year-round activity , and the moves you make in the final months of the year often have the biggest impact. Last year, the five strategies below saved me a combined $4,800 in taxes. None of them was complicated. All of them required acting before the calendar flipped. Move One: Max Out Your Retirement Contributions This is the single most impactful tax move available to most workers, and millions of people leave money on the table every year. For 2026, the 401(k) contribution limit is $23,500, with an additional $7,500 catch-up contribution if you are 50 or older. Every dollar you contribute to a traditional 401(k) reduces your taxable income dollar for dollar. If you have not been maxing out, check your year-to-date contributions in November, and calculate how much room you have left. Many employers allow you to increase your contribution percentage mid-year, and some let you make additional lump-sum contributions in the final pay periods. At a 24 percent marginal tax rate, maxing out a 401(k) at $23,500 saves $5,640 in federal income tax alone. Add state taxes if applicable, and the savings can exceed $7,000. That is real money - not deferred or theoretical, but actual tax dollars you do not pay. If your employer offers a Roth 401(k) option , the contribution does not reduce current-year taxes but grows tax-free forever. The right choice depends on whe...
Apple shares fell 3.64% on June 9 after the company's annual Worldwide Developers Conference (WWDC) failed to deliver the major surprises some investors were hoping for. WWDC is Apple's important event of the year, where the company usually unveils updates to iOS, macOS, iPadOS, and other products. ...
Apple shares fell 3.64% on June 9 after the company's annual Worldwide Developers Conference (WWDC) failed to deliver the major surprises some investors were hoping for. WWDC is Apple's important event of the year, where the company usually unveils updates to iOS, macOS, iPadOS, and other products. ...
Hong Kong health authorities have identified at least five Mpox cases linked to a club offering “premier” gay sauna services in Mong Kok, with the venue temporarily closed amid ongoing epidemiological investigations. The Centre for Health Protection said the five cases, including two previously reported by mainland Chinese authorities, all engaged in “high-risk activities” with strangers at Hutong...
Hong Kong health authorities have identified at least five Mpox cases linked to a club offering “premier” gay sauna services in Mong Kok, with the venue temporarily closed amid ongoing epidemiological investigations. The Centre for Health Protection said the five cases, including two previously reported by mainland Chinese authorities, all engaged in “high-risk activities” with strangers at Hutong, a gay sauna and fitness club on Shanghai Street. The venue has been closed since May 26 as...