Key Items to Consider Before Year End

December 11, 2012

With the election behind us, budget discussions ongoing, and an uncertain tax policy ahead of us, we would like you to be aware of a few year-end planning opportunities that may be relevant.  For now, we are assuming that there will be no bipartisan agreement before year end and that the Bush era tax cuts will expire on 12/31.

Here are the key items to consider before year end –

1.      Convert regular IRAs to a Roth
2.      Estates over $1 million – consider making gifts
3.      Accelerate income
4.      Take capital gains now
5.      Move interest earning funds to tax-exempt muni’s

Please feel free to contact us with questions relating to any of these topics.

All the best in 2013,

The Team at D. M. Brenner & Assoc.

Recommended Reading:

A Real Cliffhanger: Tax Planning for 2012, SEI

Year End Tax Moves for 2012, Kiplinger