By Skyline On Friday, October 28 th, 2016 · In , ,

FIELD NOTE: NOVEMBER 2016

YEAR-END TAX TIPS

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Before the December 31st contribution deadline has come and gone with the hectic holiday season, consider taking action on the following year-end tax tips: max your 401(k), 403(b), and 457 contributions; pre-pay your property tax and state income tax; max your HSA and 529 contributions; and make any last-minute charitable donations. The max contributions for retirement accounts are 18k if participant is younger than 50, and 24k if 50 or older. For tailored advice on how to reduce your 2016 tax burden, contact your financial advisor.

Sources: Money Education, IRS

For more tax tips, visit the IRS website.

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