4 Year-End Tax-Savings Tips to Handle Before Thanksgiving

Tax season will be here before you know it, and taking a few steps now could leave you in a much better place come April.

(Image credit: Catherine Lane © Catherine Lane 2017)

Waiting until December to make charitable donations or start moving money between various accounts to save money on 2017 taxes can present several obstacles. Transactions at investment firms can get delayed in December as people barrage these firms with such requests as year-end stock gifts to charities, and some non-profit organizations can also take weeks to process any major gifts. Employers can also get bombarded with year-end activity like last-minute payroll or tax-withholding change requests.

Instead, set aside time in October and November to take advantage of four tips that can save you hundreds, possibly thousands of dollars on your 2017 taxes. For most people, these transactions will involve other parties, which is the reason to move forward now. Here they are:

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Lisa Brown, CFP®, CIMA®
Partner and Wealth Advisor, CI Brightworth

Lisa Brown, CFP®, CIMA®, is author of "Girl Talk, Money Talk, The Smart Girl's Guide to Money After College” and “Girl Talk, Money Talk II,  Financially Fit and Fabulous in Your 40s and 50s". She is the Practice Area Leader for corporate professionals and executives at wealth management firm CI Brightworth in Atlanta. Advising busy corporate executives on their finances for nearly 20 years has been her passion inside the office. Outside the office she's an avid runner, cyclist and supporter of charitable causes focused on homeless children and their families.