5 Questions with Fidelity: Tax moves to consider before year end

Key Takeaways

As we head into year-end, it’s important to understand your income picture and its tax-bracket implications.

  • If you choose not to itemize your deductions, you won't be able to claim a deduction for things like charitable contributions.
  • Two ways to help make your charitable contributions more tax-smart are either to use a donor-advised fund or to donate your appreciated securities.
  • There are situations in which you can help minimize your tax liability by generating capital losses.
  • Fidelity's professionals can help you create tax-aware financial plans and discuss tax-smart investment approaches.

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Views expressed are as of the date indicated, based on the information available at that time, and may change based on market or other conditions. Unless otherwise noted, the opinions provided are those of the speaker or author and not necessarily those of Fidelity Investments or its affiliates. Fidelity does not assume any duty to update any of the information.

Fidelity does not provide legal or tax advice. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Fidelity cannot guarantee that the information herein is accurate, complete, or timely. Fidelity makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation.

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