“I am proud to be paying taxes in the United States. The only thing is I could be just as proud for half of the money.”
– Arthur Godfrey
Can you really invest an hour today and find yourself $1,000 richer next year? Absolutely.
Take taxes, for instance. Much of what you can do to lower your tax bill has to be done before Dec. 31. There are exceptions: For example, you can fund an IRA up until the day you file your taxes. But when it comes to things like batching or prepaying deductible expenses and using up your Flexible Spending Account balance, once the year is over, so is your opportunity to lower your tax bill.
In this week’s “Money!” podcast, we’re going to talk about a few things you should do before the year is out that can make next year less taxing, as well as other end-of-year planning tips and organizational tricks.
As usual, my co-host will be financial journalist Miranda Marquit.
Sit back, relax and listen to this week’s “Money!” podcast!
Want more information? Check out these resources:
- LastPass (password manager)
- 1Password (password manager)
- Gabi (insurance comparison tool)
- “Money in Flexible Spending Accounts Will Soon Evaporate“
- “How to Get Your Free Credit Report in 6 Easy Steps“
- YNAB (budgeting app)
- “5 Year-End Moves to Make Now and Save Big at Tax Time“
- “10 Ways Your Taxes Will Change in 2021“
- Money Talks News’ newsletter
- The Only Retirement Guide You’ll Ever Need (Money Talks News course)
Not familiar with podcasts?
A podcast is basically a radio show you can listen to anytime, either by downloading it to your smartphone or other device, or by listening online.
They’re totally free. They can be any length (ours are typically about a half-hour), feature any number of people and cover any topic you can possibly think of. You can listen at home, in the car, while jogging or, if you’re like me, when riding your bike.
If you haven’t listened to a podcast yet, give it a try, then subscribe to ours. You’ll be glad you did!
I founded Money Talks News in 1991. I’m a CPA, and I have also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.