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In the lean years, year-end planning stresses pushing as many deductible expenses as possible into the following year when they'll have more value. 3. Beware of the Alternative Minimum Tax
However, if you or your spouse are covered by an employer plan, like a 401(k) or 403(b), you might not be eligible to deduct your contributions if you make too much money.For the 2021 tax year ...
As the year winds down, tax planning takes center stage. The last months before Dec. 31 are prime time for taxpayers to execute various financial moves before certain tax deadlines arrive.
The following describes six tax moves you should make right now. 1. Maximize Your 401 (k) Contribution. Upping your 401 (k) contribution might be a challenge in a year of soaring inflation, but it ...
Act before December 31 to increase your tax breaks Whether you are having a good year, rebounding from recent losses, or still struggling to get off the ground, you may be able to save a bundle on ...
For tax year 2022, you can make contributions up until April 18, 2023. The key is that you must have been enrolled in an HSA-eligible health plan as of December 1 of this year, per the IRS's ...
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