This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cut Your Tax Bill With These Year-End Tips

Don't come looking for tax deductions next April when you finally get around to doing your tax return. The time to act is now -- at year's end -- when no one wants to think about taxes. If you want to save tax dollars next spring, here's what you should be doing now:

Give Money Away

It's the season to be charitable, and charity begins at home. Gifts of cash to family and friends aren't deductible, because they aren't IRS recognized charities -- but those gifts could reduce your ultimate estate tax (depending on when you die). You can give up to $12,000 to any number of people if you care to spread your wealth.

One good option: Open a 529 College Savings Account and you can combine up to five years of the annual gift -- for a total of $60,000 -- to grow tax-free over the years to pay for college expenses. (Tip: If you don't have children or grandchildren, open an account anyway in your name, and then you can transfer the tax-free assets for use of a "future child" to pay for college!)

Be smart about your giving. If you want to be sure your tax-deductible donation is going to be put to good use, go to www.guidestar.org , where you can check on a charity as well as actually make an instant donation online.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
TROW $77.22 0.37%
AAPL $125.69 -0.25%
FB $87.22 -0.38%
GOOG $525.02 0.41%
TSLA $267.88 -4.23%

Markets

DOW 17,776.91 +93.33 0.53%
S&P 500 2,081.34 +12.58 0.61%
NASDAQ 4,997.4590 +5.5190 0.11%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs