There's still time to slash your 2024 tax bill with these last-minute moves
As year-end approaches, there’s still time to slash your 2024 tax bill or boost your refund, financial advisors say.
As year-end approaches, there’s still time to slash your 2024 tax bill or boost your refund, financial advisors say.
Typically, you can expect a tax refund when you overpay taxes throughout the year. Alternatively, you get a tax bill when you haven’t paid enough.
Most 2024 tax strategies must be completed by Dec. 31, so there’s limited time to make last-minute moves.
After a strong year for the stock market, many investors won’t have tax-loss harvesting opportunities, which can turn portfolio losses into tax breaks.
It could also be too late to boost pretax 401(k) employee deferrals for 2024, which reduces your adjusted gross income.
https://www.nbcnews.com/business/taxes/still-time-slash-2024-tax-bill-last-minute-moves-rcna184454
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