Preparing for Year-End Taxes: Tips and Strategies for a Smooth Filing

Wealth-Building Made Simple

English - October 27, 2023 15:26 - 8 minutes - 8.32 MB - ★★★★★ - 12 ratings
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Previous Episode: Breaking Free from Financial Limitations: Rewiring Your Attitude

Next Episode: Key Factors to Consider When Choosing a Mutual Fund

Key Takeaways:

Review your pay stubs and assess tax withholdings to avoid any surprises.
Maximize contributions to HSAs and traditional 401(k) plans to reduce taxable income.
Keep track of eligible deductions, such as medical expenses and charitable contributions.
Consult with a qualified CPA to review your tax return and ensure proper preparation.

Chapters:

| **Timestamp** | **Summary** |

| ------------- | ----------- |

| 0:00:07 | Disclaimer about investment advice and risks involved. |

| 0:00:38 | Introduction and discussion about Halloween candy. |

| 0:02:38 | Importance of preparing for the end of the year for taxes. |

| 0:03:43 | Checking pay stub and making changes if necessary. |

| 0:04:53 | Maximizing contributions to HSA and 401K plans. |

| 0:05:36 | Considering itemized deductions and capital gains. |

| 0:06:14 | Scheduling a meeting with a CPA to review tax return. |

| 0:07:00 | The importance of avoiding surprises on April 15th. |

| 0:07:28 | Discussion about Halloween candy. |

| 0:07:48 | Contact information for more assistance. |

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Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.