The Proactive Solutions Blog

Year-End Is Fast Approaching

Posted by James F. Weber on 12.22.16

Consider these planning ideas:

  • Sell stocks currently held at a loss. You can write off the first $3,000 of those losses as an ordinary loss and the excess capital loss can be used to offset capital gain.
  • Fully fund your 401k plan $18,000 for those of you under the age of 55, $24,000 for those of you over the age of 55 (make sure you have a safe harbor plan if you are a stockholder).
  • Consider your children, spouse at work.
  • Consider gifting $14,000 individually and $28,000 jointly. 
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