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2018 Year-End Tax-Saving Strategies

Even though the end of the year is right around the corner, you still have time to make changes that could reduce your tax liability.

Whether you're single, married, have a family, or own a business, we have tax-saving strategies for you below. Just click the link under each title to be taken to the full article.

As always, our team is here to help guide and support you through your financial decisions.

 

Your year-end tax planning doesn't have to be hard. This article takes your daily activities and identifies easy year-end tax-planning moves you can make today. Our five strategies will increase your tax deductions or reduce your taxable income so that Uncle Sam gets less of your 2018 cash

If you are thinking of getting married or divorced, you need to consider December 31, 2018, in your tax planning. Here's a planning question: Do you give money to family or friends (other than your children who are subject to the kiddie tax)? If so, you need to consider the zero-tax-bracket planning strategy. And now, consider your children who are under age 18. Have you paid them for work they've done for your business? Have you paid them the right way? You'll find the answers here.

Here's an easy question: Do you need more 2018 tax deductions? If yes, continue on. Next easy question: Do you need a replacement business vehicle? If yes, you can simultaneously solve or mitigate both the first problem of needing more deductions and the second problem of needing a replacement vehicle, but you need to get your deduction in place on or before December 31, 2018. This article helps you find the right vehicle for the deduction you desire.

When you get busy with your business, it's easy to forget about your retirement accounts and medical coverages and plans. But year-end is approaching, and now's the time to take action. This article gives you six action steps for 2018 that can help you reduce your taxes and pocket extra money.

Yes, December 31 is just around the corner. That's your last day to find tax deductions for your existing business vehicles that will cut your 2018 taxes. In this article, you will learn how to find and release tax deductions that the tax code trapped inside your existing business cars, SUVs, trucks, and vans.

Your stock market portfolio can represent a little goldmine of opportunities to reduce your 2018 income taxes when you take advantage of the tax code's offset game. The tax code contains the basic rules for this game, and once you know the rules, you can apply the correct strategies. In addition to saving taxes with the game of offset, you can also avoid paying taxes on stock appreciation by gifting stock to charity, your parents, and your children who are not subject to the kiddie tax.

Starting this year (2018), you have to consider your Section 199A deduction in your year-end tax planning. If you don't, you could end up with a big fat $0 for your deduction amount. We'll review four year-end moves that (a) reduce your income taxes and (b) boost your Section 199A deduction at the same time.

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