By making a few intentional moves before December 31st, you can increase deductions, lower taxable income, and set yourself up for a bigger refund when tax season rolls around.
The year may be wrapping up — but your tax strategy shouldn’t go into hibernation just yet. Smart year-end planning can make a big difference in how much you owe (or how much you get back) when you file your 2025 taxes. By making a few intentional moves before December 31st, you can increase deductions, lower taxable income, and set yourself up for a bigger refund when tax season rolls around.
Contributing to your retirement account is one of the simplest — and most powerful — ways to lower your taxable income.
Even if you can’t hit the max, increasing your contributions by just a few percentage points before year-end can make a noticeable impact on your refund.
Pro tip: Self-employed? Don’t forget about SEP IRAs or Solo 401(k)s — both allow much higher contribution limits than traditional accounts.
If you’re enrolled in a high-deductible health plan, an HSA is one of the best triple-tax-saving tools available. Contributions are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses.
Unused funds roll over year to year, so this isn’t a “use it or lose it” account — it’s a long-term health and tax strategy.
Donations made before December 31st can qualify for a deduction if you itemize. That includes cash donations, appreciated stock, and even certain non-cash contributions like clothing or household items in good condition.
A little generosity can go a long way — both for your community and your refund.
If you’ve had major income changes this year — like a raise, side income, or new job — your current withholding may not be accurate. Checking your paystub or using the IRS Withholding Estimator can help you avoid both underpayment penalties and over-withholding (aka giving the IRS an interest-free loan).
For business owners: Review your Q4 estimated taxes now. Adjusting your final payment before January 15th can help you hit the sweet spot between owing and overpaying.
Credits directly reduce your tax bill — and some are even refundable, meaning they can increase your refund beyond what you paid in.
Before year-end, check if you qualify for:
These often go overlooked but can make a major difference in your refund total.
At Vincere Tax, we specialize in turning last-minute tax stress into proactive savings. Our advisors analyze your income, deductions, and contribution opportunities before year-end to help you lock in every available tax benefit. Whether you want to maximize your refund, reduce what you owe, or strategically plan for 2025, we’ll show you exactly where to focus your efforts — and how to make every dollar count. From charitable giving and retirement planning to entity structure reviews and tax-loss harvesting, our experts ensure you finish the year strong — and set yourself up for a better filing season ahead.
Schedule a call with a Vincere Tax strategist today and see what entity setup makes the most sense for your 2025 tax strategy.
For business tax planning articles, our tax resources provides valuable insights into how you can reduce your tax liability now, and in the future.
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