Two Year-End Strategies to Reduce Taxes
Of the many strategies available to clients to reduce tax liability, here are two of the most common we use at the end of each year.
- Qualified Charitable Distributions (QCD) from an IRA - if you are older than 70 1/2 and now taking distributions from a retirement account, yet you don’t need the cash from year-to-year. You can make a charitable donation from you IRA, tax-free. Congress made this a permanent strategy last year. Read more regarding required distributions and taxes http://www.raymondjames.com/pointofview/required-reading-for-required-minimum-distributions
- Tax Loss Harvesting - Selling shares at a loss, intentionally, to offset gains that have been taken through the year, and potentially repurchasing the same investment after 30 days (wash rule). Read more on year-end tax planning. http://www.raymondjames.com/pointofview/check-this-list--twice--before-yearend
Please call or email us to take a closer look at either strategy for the 2016 tax year. 727-567-SEED (7333)
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