Broker Check

Reduce Your April Tax Bill

Steps To Take at Year-End to Reduce Your Tax Bill

Ask yourself:

  1. Did I make the maximum contributions to my 401(k), 403(b), or IRA?
  2. Did I fund my Roth IRA?
  3. Did I complete my Required Minimum Distribution (if over age 70½)?

You could also:

  1. Fund permanent life insurance and/or tax deferred annuities
  2. Make annual gifts &Charitable Contributions
  3. Finalize business expenses

Don’t forget to:

  1. Review taxable gains and losses from brokerage accounts
  2. Review liquidity needs for now and in the future

With top federal rates of 39.6% on ordinary income, 20% for long term capital gains and qualified dividends, the phase-out of itemized deduction and personal exemptions and the 3.8% surtax on net investment income some last minute actions can help reduce your tax bill.

This can all seem complicated, but our team is here to help. We'll sit down with you and explain step-by-step the actions you can take to help minimize you payment in April.

Please don't hesitate to call Michele at 610.513.2690 or email at

Click here to view our Tax Resources.