2024 Year-End Tax Planning Strategies for Individuals

With less than three months left in 2024, now is the perfect time for proactive tax planning to find opportunities to reduce your taxes before the year ends.

In this video, I’ll walk you through some of the year-end tax planning strategies that have helped our clients minimize taxes – both now and in the future. Make sure to watch until the end to ensure you don’t miss any chances to keep more of your hard-earned money.

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00:00 - Intro
00:42 - Ways to Itemize Deductions
02:03 - '"Go Green" & Receive Tax Credits
03:21 - Ways to Defer Income
04:05 - Charitable Giving Strategies
05:23 - Strategies to Manage RMDs
07:15 - Max Out Retirement Accounts and HSA
09:22 - Roth Conversions
09:52 - Harvest Losses
10:31 - High-Turnover Mutual Funds
10:51 - Harvest Gains to Pay 0% Tax
11:50 - Net Investment Income Tax
12:16 - Advantages of REITs
12:41 - Qualified Small Business Stock
13:16 - Final Thoughts

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Vitaly Novok is a fiduciary financial planner with Lestna Retirement. He helps people protect their wealth and maximize the lasting impact of their legacy by creating personalized financial and estate planning strategies.

☎ Book your Estate Clarity Meeting: https://calendarhero.to/introductory
✅ Request your free one-page financial plan: https://www.lestna.com/get-started
🌍 Visit Lestna Retirement: https://www.lestna.com

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Disclaimer: The content in this video reflects my personal views and is for informational purposes only. The strategies and ideas discussed may not be suitable for everyone. This video does not constitute personalized investment, tax, or legal advice, nor does it offer or solicit the purchase or sale of any securities. Please consult with a qualified professional for advice tailored to your individual circumstances.

#taxplannng #financialplanning #taxstrategies #financialeducation