10 Tax Planning Tips for the End of the Year

Tax planning between now and the end of the year can have a significant impact on how much tax you have to pay next April.

picture of a computer screen with "2022 taxes" on it
(Image credit: Getty Images)

Financial decisions you make between now and the end of the year can have a significant effect on how much tax you have to pay next April. This is particularly true if you're saving for retirement, itemize deductions, or hold investments outside a retirement account.

But time is running short. It will be too late to cut your tax bill using most of the tips we've assembled below after we ring in the new year. So check out our list right away and get cracking!

Sandra Block
Senior Editor, Kiplinger's Personal Finance

Block joined Kiplinger in June 2012 from USA Today, where she was a reporter and personal finance columnist for more than 15 years. Prior to that, she worked for the Akron Beacon-Journal and Dow Jones Newswires. In 1993, she was a Knight-Bagehot fellow in economics and business journalism at the Columbia University Graduate School of Journalism. She has a BA in communications from Bethany College in Bethany, W.Va.