Tax Strategy Advisor
Personalized recommendations to minimize your tax burden
6
Recommended
1
In Progress
$12,890
Potential Savings
$1,176
Already Saved
Time-Sensitive Opportunity
You have strategies with upcoming deadlines. Taking action now could save you $5,240.
Maximize 401(k) Contribution
RecommendedEasyRetirementYou can contribute an additional $8,500 to reach the $23,000 annual limit, reducing your taxable income.
Tax-Loss Harvesting Opportunity
RecommendedModerateInvestmentYour tech holdings have unrealized losses of $4,200. Harvest these losses to offset capital gains.
Charitable Giving Bunching
RecommendedModerateDeductionConsider bunching 2 years of donations into one year using a Donor-Advised Fund to exceed standard deduction.
Backdoor Roth IRA Conversion
RecommendedComplexRetirementYour income exceeds Roth IRA limits. Execute a backdoor conversion to grow investments tax-free.
Income Timing - Bonus Deferral
RecommendedModerateTimingIf possible, defer year-end bonus to January to lower 2025 tax bracket.
Consider S-Corp Election
RecommendedComplexEntityWith $24,500 in freelance income, an S-Corp election could reduce self-employment taxes.
Retirement
3 strategies
Investment
1 strategies
Deduction
2 strategies
Timing
1 strategies
Entity
1 strategies
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Our network of CPAs and tax professionals can help you implement complex strategies like S-Corp elections, entity restructuring, and advanced retirement planning.