The end of the year is fast approaching, so now may be a good time to start thinking about steps that could help reduce your 2012 income tax liability. Of course, before you take any specific action, be sure to consult with your tax professional.
- Consider income timing.
- Examine your capital gains and dividend strategy.
- Make your January mortgage payment early.
- Give to charity.
- Use up your flexible spending account (FSA) funds.
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The information in this article is not intended as tax or legal advice, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek tax or legal advice from an independent professional advisor. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Emerald. Copyright © 2012 Emerald Connect, Inc.
Curtis Willardson, CFP, CLU, Daniel O Palmer, and John Neuenswander are registered representatives offering securities and investment advisory services through Financial Network Investment Corporation, member SIPC. David Palmer is a registered representative offering securities through Financial Network Investment Corporation, member SIPC. Utah Community Investment Services, Utah Community Credit Union and Financial Network are independent companies. Registered address: 188 W. River Park Drive, Provo, UT 84604.