ACap ReCap: Financial and Tax Tips
ACap Advisors & Accountants is a boutique fee-only Wealth Management and full-service Accounting firm based in Los Angeles. We handle everything from taxes to investments to risk management and estate planning, providing comprehensive, unbiased financial advice in one location. In our ACap ReCap episodes, we discuss the latest financial news, answer the frequently received financial questions, and share financial tips with you. If you have questions or suggestions email us hello@acapam.com Find more details at https://www.acapam.com/ #financialadvisor #fiduciaryfinancialadvisor #finance #financial #money #wealthmanagement #assetmanagement #investment #tax #taxplanning
ACap ReCap: Financial and Tax Tips
11 Year-End Tax Tips for 2024
As we approach the end of the year, it's time to prepare for a financially smart 2025. Here are 11 key tax tips to consider:
1. Maximize 401k contributions
2. Harvest losses
3. Gift $16,000 to lower your taxable estate
4. Roth IRA conversion
5. Defer income
6. Paying for medical or college bills
7. Qualified Charitable Distribution
8. Charitable donations
9. Donate appreciated stock
10. Create a Donor Advised Fund (DAF)
11. Spend your Flexible Spending Account (FSA)
These strategies can help you reduce your tax liability and prepare for a more financially secure year ahead. Reach out if you need more guidance on any of these!
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