2022 Year-End Tax Planning Tips

Delaying billing 2022 side-gig income until 2023, maximizing end-of-year pre-tax retirement plan contributions, and selling stocks at a loss to offset capital gains are just a few of many steps you can take right now to reduce your 2022 taxable income. Terry, Pam and Richard discuss these and other strategies and IRS changes that may lower tax bills for many Americans in 2023.  

For further research:

• Next Avenue, Year-End Tax Planning Moves for 2022
• Terrysavage.com, Year-End Tax Planning 
• Taxfoundation.org: Summarizes 2023 IRS income and capital gains tax brackets and credits