Smart tax planning strategies you can implement before the year ends to reduce your tax liability and keep more of your money.

5 Year-End Tax Planning Strategies

Don't wait until tax season to think about your taxes. These strategies can help reduce your liability before December 31.

Contribute the maximum to your 401(k) ($23,500 for 2025) or IRA ($7,000, or $8,000 if over 50). These contributions reduce your taxable income.

Sell investments that have lost value to offset capital gains. You can deduct up to $3,000 in net losses against ordinary income.

If you're close to the standard deduction threshold, consider "bunching" two years of charitable donations into one year to exceed it.

If you're expecting a bonus or can delay invoicing clients, pushing income into the next year can lower your current year's tax bill.

Check your W-4 and ensure you're not overpaying or underpaying throughout the year. Adjust withholding to match your actual tax liability.

Want personalized year-end planning? Our tax experts can create a customized strategy for your situation.

5 Year-End Tax Planning Strategies That Actually Work