GIFT GIVING........$18k is the annual tax-free limit that you can gift to any other person.  Make sure you pay that person no later than 12/31.   If you are married, you and your spouse can gift up to $36k to any one person.  Amounts in excess of these limits aren't necessarily taxable but are required to be reported on a Gift Tax Return if you're planning to give more, it is best to reach out to me for guidance.

TUITION AND MEDICAL EXPENSES ........ If you paid these expenses for someone else, amounts paid directly to a school or a medical provider are not subject to the previously mentioned 18/36k  annual limits.  These are in addition to those limits,

DONATIONS FROM YOUR IRA (Qualified Charitable Distributions: "QCD")......... Up to $105k donated directly from your IRA can count towards your required annual minimum (RMD) distribution.  For ex, if your IRA donates $10k to your favorite charity and your annual RMD is $50k, then only $40k needs to be distributed to you.  Donating directly from your IRA can reduce your tax liability, so if this is part of your plan, it is best to reach out to me for guidance.

TAX LOSS HARVESTING.........  It means that if you have net capital gains for the year, consider selling off loss positions to offset the gains.  Keep in mind all positions have to be closed out (sold) by 12/31 to be effective for 2024.

DONATE APPRECIATED STOCK......... If you donate stock that you've held for at least a year (long term), you get a tax deduction for the market value of the stock on the date of donation.  This means you don't need to sell the stock; just transfer it to the charity.

DONOR ADVISED FUND (DAF)............. If you donate regularly but just don't know which charity to donate to this year, consider a DAF.  Open a DAF at your brokerage firm.  It's essentially a savings accou