More Year-End Tax Planning Ideas: Investments and Retirement
As we continue looking at meaningful year-end opportunities, there are a few additional areas that may be worth reviewing before the calendar turns: investment gains and losses, required minimum distributions from retirement accounts, and thoughtful family gifting or estate planning. A little attention now can help reduce stress later and may even improve your long-term financial picture.
INVESTMENT GAINS, LOSSES, AND TAX-LOSS HARVESTING
If you have investments in taxable brokerage accounts, year-end is a good time to review how your portfolio has performed during the year. In some situations, selling certain investments at a loss may help offset gains recognized earlier in the year. This is sometimes referred to as tax-loss harvesting.
Key reminders:
• Losses can offset capital gains
• Excess losses may offset some ordinary income
• Remaining losses can carry forward
Always consider overall investment strategy and wash sale rules.
REQUIRED MINIMUM DISTRIBUTIONS AND RETIREMENT REMINDERS
If you’re subject to Required Minimum Distributions (RMDs), most distributions must be taken by December 31 to avoid penalties.
Year-end can also be a good time to:
• Review retirement withdrawals
• Confirm withholding
• Consider Qualified Charitable Distributions when eligible
YEAR-END GIFTING
The final weeks of the year are a natural time for many families to think about financial gifting and long-range planning.
Many people review:
• Annual gifts to family members
• Paying tuition or medical expenses directly where appropriate
• Beneficiary designations
• Whether wills or powers of attorney are current
These aren’t just tax steps — they are about clarity and peace of mind.
Thoughtful year-end planning can lead to reduced surprises and greater financial clarity. If you’d like to discuss investment decisions, retirement withdrawals, or family planning considerations, I’d be glad to help.
The article is meant for informational purposes only. Please contact me directly to discuss how this applies to your individual tax situation.