- Remember to contribute to your IRA for 2015. Those under age 50 can contribute up to $5,500. If you’re 50 or older, you can put $6,500 into your IRA for 2015.
- Put the maximum allowed into your 401(k) plan for 2015. This year you can set aside $18,000 if you’re under age 50. If you’re 50 or older, you can put $24,000 into a 401(k).
- Both businesses and individuals can benefit from a year-end tax planning review. To discuss moves you can still make to cut your 2015 taxes, give us a call now before it’s too late to act.
- Make tax-free gifts to use your annual gift tax exclusion for 2015. This year you can give up to $14,000 to as many individuals as you like without tax consequences. These gifts to individuals are not deductible by you; nor are they taxable to the recipients.
- Review your investment portfolio to determine whether you’ll want to sell some investments before year-end to offset gains or losses taken earlier in 2015.
- The information on this site is general in nature and should not be acted upon in your particular situation without further details and/or professional advice. For assistance, contact our office.
Comments are closed.