8 Year-End Tax Saving Strategies You Need to Know

As the end of 2024 approaches, it's the perfect time to review your tax situation and take advantage of strategies to save money this year and limit your lifetime tax liabilities.

In this week’s video, Tim covers 8 key year-end tax saving strategies you should consider:

Retirement Plan Contributions - Maximize contributions to tax-deferred and Roth retirement accounts.
Tax Loss Harvesting - Sell investments at a loss to offset gains and up to $3,000 in ordinary income.
Tax Gain Harvesting - Recognize long-term capital gains while in a lower tax bracket.
Roth IRA Conversions - Convert tax-deferred funds to a Roth IRA for tax-free growth.
Charitable Donations of Appreciated Stock - Donate appreciated stock to get a deduction for the full market value.
Donor Advised Funds - Contribute to a charitable fund to receive an immediate deduction.
Bunching/Stacking Deductions - Bunch multiple years of charitable donations to exceed the standard deduction.
Qualified Charitable Distributions - Use pre-tax IRA funds for charitable donations after age 70.5.

Don't miss out on these valuable tax-saving opportunities. Watch the full video for all the details. If you have any questions, please reach out to Tim and the team at Eagle Ridge Wealth Advisors.

💸Start Saving Taxes Today: https://erwealth.com/