7 Year End Tax Moves to Consider for 2022

In this Video:

The end of 2022 is quickly approaching! Which means the time to take advantage of these tax saving tips is running out. On this episode, I’ll highlight seven year-end tax moves to cosider before the ball drops on December 31st. Don’t miss these invaluable tax tips that could make 2022 your best fiscal year yet!

Things to Consider:

We all have a lot of expenses that we need to pay for each year. One of the largest expenses for most people are their taxes. They have to pay annual taxes on their property, automobiles, and any earned income. In addition to that, retirees must cover the taxes on each distribution from their retirement accounts. For these reasons, I have compiled seven tax moves that indivdiuals can use to reduce their annual tax bill.

Key Points in this Episode:

0:00: Intro

0:22: Contribute to a Traditional IRA

2:20: Contribute to a 529 Plan

4:42: Full Fund Your Health Savings Account (HSA)

7:54: Tax Loss Harvesting

8:55: Roth Conversion

12:15: Set Up a 401(k) Profit Sharing Plan

14:29: Tax Deduction on Vehicle Through Your Business