Year-End Tax Moves: Maximize Deductions Before December 31

December isn’t just about holidays—it’s also your last chance to make smart tax moves before the year closes. Strategic planning now can reduce your taxable income and put you in a better position for 2025.

Key Strategies

• Max out retirement contributions (IRA, 401k, SEP)

• Consider charitable giving for deductions

• Prepay deductible expenses like property taxes or medical bills

• Harvest tax losses by selling underperforming investments

Small Business Owners

Consider year-end purchases of equipment or software to take advantage of Section 179 or bonus depreciation.

Expats

If you qualify for FEIE or FTC, review your documentation now to ensure compliance.

Book a tax strategy session with Be Well & Co. today to identify which year-end moves make sense for you. Don’t wait until January—it’ll be too late.

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This reminder is provided for educational purposes only and does not constitute financial, legal, or tax advice. Please consult with a qualified professional about your specific situation.

Written by Courtney A. Mallow, IRS-Registered Tax Preparer, Certified Fraud Examiner (CFE), Certified Personal Financial Wellness Consultant℠, and Founder of Be Well & Co. Financial Consulting. Courtney helps self-employed individuals, people living abroad, and global professionals align their money with their values.