Year-end tax planning doesn't have to be overwhelming. In this episode, we're continuing our tax series by diving into year-end tax planning, what it is, why it matters, and what it involves. (If you haven't already, go back and listen to episode 42, Your Guide to Individual Tax Brackets, first.)

As the year winds down, it's the perfect time to assess your financial situation and confidently prepare for the upcoming tax season. We'll explore how to gather and evaluate your income data and pinpoint which tax brackets will apply to you. This comprehensive evaluation will help you understand your current financial standing and prepare for any surprises that may arise when tax season arrives.

In this episode, I cover: 

• The critical process of identifying deductions, such as retirement contributions and self-employed health insurance premiums, that can reduce your taxable income
• How to review estimated tax payments or withholdings to determine if there's a balance due or if you've overpaid and might expect a refund
• Sharp tactics to optimize your year-end tax planning and minimize liabilities, ensuring clarity and control as you approach tax season

Connect with Sheila:

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Find the complete show notes here: https://www.hansenllc.net/year-end-tax-planning/

Resources & Links:

• Episode 42: Your Guide to Individual Tax Brackets
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