Good advice from the nice folks at Charles Schwab online brokerage:
1) Harvest your investment losses in taxable accounts by Dec. 31 to offset any capital gains;
2) Max out on contributions to your qualified employer retirement plan and IRA;
3) If you’re self-employed, open a business retirement account such as a SEP-IRA, SIMPLE IRA or qualified retirement account (QRP)/Keogh;
4) Open and contribute to a Roth IRA;
5) If you make quarterly estimated tax payments to your state, make your fourth-quarter payment by Dec. 31 instead of waiting until the New Year;
6) Prepay the second installment of your property tax by Dec. 31;
7) Make January’s mortgage payment in December;
8) Open and fund a 529 college savings account;
9) Donate appreciated securities you’ve held for more than one year to a qualified public charity;
10) Consider postponing the exercise of incentive stock options (ISOs) until January.
These are just the bullet points –each topic is given the full treatment at Schwab’s site. Check it out . . .
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.