It's Not too Late to Reduce Your 2024 Tax Bill

It is not too late to consider tax planning moves that may lower taxes for the 2024 tax year and possibly position you for savings in the years ahead. While tax planning is a never-ending endeavor, important deadlines are approaching for many strategies that could benefit you in 2024.

The tables below highlight key deadlines and important information on some of today's most popular account types. As always, your Woodmont Team is available to answer any questions on how these options may impact you. Links to Additional Resources:

1. HSA Contribution Limits
2. IRA Contribution Limits
3. Secure 2.0 Act of 2022
4. Planning for Year-End 2024: Gifts and Distributions - Woodmont Commentary
5. Required Minimum Distributions
6. Frequently Asked Questions on Gift Taxes
7. One Sunset We're Watching Closely - Woodmont Commentary
8. Cut Your Tax Bill With Tax Loss Harvesting
9. How to Lower Your Taxes by Harvesting Gains