Year End Tax Checkup

As the year ends, here are key tax preparation steps: Organize receipts for deductions, use up FSA funds to avoid loss, set up direct deposit for faster tax refunds, and maximize retirement contributions to lower taxable income. Consider contributing to an IRA or 401(k) to qualify for tax credits like the Saver’s Credit. These simple steps can help you avoid tax penalties and ensure smooth filing for 2024 taxes.