How to reduce income taxes in 2024 – 5 Strategies!

Today we want to talk about how to reduce your 2024 taxes and your 2024 taxable income. Whether you’re still working or you have already retired, the five strategies we’re going to share with you in this video could potentially reduce your taxes by hundreds or thousands of dollars. Each of these strategies are best used sooner than later because they may not be available to you the longer you wait. Work with a financial professional to determine which of these strategies fits you the best and work to take advantage of them before the end of the year. Here’s some of what we discuss in this episode: 0:00 – Intro 0:46 – Strategy 1: Contribute to a Tax-Deferred Account 4:23 – Strategy 2: Contribute to a FSA or HSA 6:30 – Strategy 3: Charitable Contributions 7:40 – Strategy 4: Tax-Loss Harvesting 8:13 – Strategy 5: Re-allocate Interest Bearing Funds #taxplanning #taxsavings #retirementplanning Additional Resources: -Will my taxes be higher or lower in retirement? -    • Will my taxes be higher or lower in retire...   -How to help reduce taxes on Required Minimum Distributions -    • How to Help Reduce Taxes on Required Minim...   Begin the 'Max My Retirement' Gameplan here: https://sierensfinancialgroup.com/wor... Want to learn more about financial and retirement planning? ➟ https://bit.ly/3tcS3vn _____________________________ CONNECT 🤝 Facebook:   / sierensfinancial   LinkedIn:   / scott-sierens-sfg   Podcast: https://lifemoneyshow.com/podcast/ _____________________________ CONTACT ☎ Website: https://lifemoneyshow.com/ Phone: (847) 235-6989 Email: [email protected] Appointment: https://calendly.com/sierensfg/intro-...