Episode #46: 4 Important Tax Strategies To Implement Before The End Of The Year

As we enter into the fourth quarter of the year, you may be surprised to learn there are things you can do right now that have an impact on your taxes. Here are four strategies to implement right now.

Show Notes: https://coveryourassetskc.com/ep-46-4-important-tax-strategies-to-implement-before-the-end-of-the-year/

1:05 - Why now? Do we really have enough time to implement these tax strategies this year?

2:48 - #1 Tax strategy: Max out your 401(k) plan or at least up to the match. 

6:07 - #2 Tax strategy: If you have a high deductible plan, you need to contribute to an HSA.

9:41 - #3 Tax strategy: If you are over 70.5, you have to take out RMDs.

13:15 - #4 Tax strategy: Use your RMDs for your charitable donations.