All the Hacks: Money, Points & Life Year End Checklist for Your Money, Taxes, Points and Miles
29 snips
Dec 14, 2022 Discover essential year-end financial strategies to optimize your money, taxes, and rewards! Learn about tax-loss harvesting, the benefits of charitable contributions, and how to navigate retirement contributions. Explore innovative investment opportunities like I bonds and even art. Plus, delve into maximizing health savings accounts and the perks of credit cards, including the Hilton card's fantastic rewards. Don’t miss tips on how to leverage all those valuable credit card benefits before year-end!
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Itemizing vs. Standard Deduction
- Consider itemizing deductions if they exceed the standard deduction amount.
- Bunch itemized deductions into one year to maximize tax benefits.
Income Shifting
- Defer or accelerate income strategically based on expected future income.
- Consider if deferring income to a lower-income year makes sense.
Donating Appreciated Assets
- Donate appreciated assets to avoid capital gains taxes.
- Get a full deduction and let charities receive the full value.