Ways to Prevent Taxes From Catching You by Surprise, Ep #190

Are you the type of person who loves surprises? One surprise you probably don’t enjoy is having to pay more taxes than you anticipated. 

Unfortunately, taxes are a necessary part of life. The best thing you can do to ensure that you aren’t caught off guard at the end of the tax year is to prepare throughout the year. 

On this episode of Financial Symmetry, Allison Berger and I review 9 ways to prevent taxes from catching you off guard. Don’t let the next tax season take you by surprise. Listen in to hear how you can improve your tax situation so that you can rest easy come tax time.

Outline of This Episode

• [3:56] Not accounting for all income sources
• [8:10] Not taking advantage of your retirement savings
• [12:09] Missing charitable deductions
• [14:40] Medical expense deductions
• [17:23] Missing Roth conversions in a lower income year
• [18:50] Not wanting to sell investments while they’re down
• [20:38] Business owners have their own expense deductions
• [21:55] Making estimated tax payments
• [25:30] Your progress principle

Resources & People Mentioned

• Tax loss harvesting article
• Charitable giving episode

Connect With Chad and Mike

• https://www.financialsymmetry.com/podcast-archive/ 
• Connect on Twitter @csmithraleigh @TeamFSINC
• Follow Financial Symmetry on Facebook

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