Tax-Saving Moves to Make Before Year-End As we approach the end of 2025, now is the perfect time to review your financial picture and consider strategies that may help reduce your upcoming tax bill. While April 15th may feel far away, several important tax-planning opportunities must be completed before December 31st to be effective. This has been a strong year in the markets-the S&P 500 is up 17.72%-and elevated portfolio gains create opportunities to manage taxes thoughtfully. Below are key strategies to consider now: 1. Prepay Federal, State, and Local Taxes Rather than making your 4th-quarter estimated payments in January 2026, consider completing all tax payments within the 2025 calendar year. This may allow you to increase your itemized deductions for the current year. 2. Medical Expense Deduction Medical expenses are deductible once they exceed 7.5% of your Adjusted Gross Income (AGI). Because this threshold is high, it is most beneficial in years with unusual or significant medical costs-such as surgeries, accidents, or major health issues. If 2025 includes substantial expens- es, be sure to gather all documentation. 3. Home Sale or Purchase: Deductible Expenses If you purchased or sold a property this year, you may be able to deduct costs such as: Appraisals Inspections Attorney fees Title searches Certain closing fees These expenses often go unclaimed-review your settlement statement with your advisor or accountant. 4. Harvest Capital Gains and Losses by 12/31 Now is an ideal time to review your taxable investment portfolio: Long-term gains (held >1 year) are taxed at 15% Short-term gains (held <1 year) are taxed at ordinary income rates To reduce your tax burden, aim to offset realized gains with realized losses before year-end. We can help analyze your positions and identify tax-efficient opportunities. 5. Charitable Contributions "Bunching" charitable gifts into one year can help you exceed the standard deduction and claim a larger itemized deduction. Cash contributions: deductible up to 60% of AGI Low-cost-basis stock donations: deductible up to 30% of AGI Gifting appreciated securities is often the most tax-efficient way to give. 6. Maximize Retirement Contributions Be sure to take advantage of the increased 2025 contribution limits: Traditional or Roth IRA Contribute up to $7,000 Or $8,000 if you are 50+ 401(k) or 403(b) Contribute up to $23,500 Plus a $7,500 catch-up if 50+ Total possible contribution: $31,000 Maximizing retirement contributions reduces current taxable income while enhancing long-term savings. 7. Consider a Roth IRA Conversion A Roth conversion may be beneficial if: Your income is unusually low in 2025 You expect higher tax brackets in the future You want to reduce required minimum distributions (RMDS) later in life A conversion requires careful analysis of tax brackets and long-term financial goals. Beth Genter Ellie Genter we invest in your future. A Final Note Regardless of wealth level, there are numerous year-end tax-saving opportunities available. We encourage you to review your financial situation with a qualified wealth advisor to determine which strategies best support your goals. Our team at Schenley Capital is always available to assist. Happy Holidays and please visit us at our new offices at 428 Walnut Street! schenley capital adno=396725 Schenley Capital Inc. schenley 428 Walnut Street, Suite 200 Sewickley, PA 15143 (412)-749-9256 f in Schenley Capital, Inc. does not provide legal, accounting or tax advice. Any statement regarding such matters is explanatory and may not be relied upon as definitive advice. All investors are advised to consult with their legal, accounting and tax advisers regarding any potential investment. adno=324108 Tax - Saving Moves to Make Before Year - End As we approach the end of 2025 , now is the perfect time to review your financial picture and consider strategies that may help reduce your upcoming tax bill . While April 15th may feel far away , several important tax - planning opportunities must be completed before December 31st to be effective . This has been a strong year in the markets - the S & P 500 is up 17.72 % -and elevated portfolio gains create opportunities to manage taxes thoughtfully . Below are key strategies to consider now : 1. Prepay Federal , State , and Local Taxes Rather than making your 4th - quarter estimated payments in January 2026 , consider completing all tax payments within the 2025 calendar year . This may allow you to increase your itemized deductions for the current year . 2. Medical Expense Deduction Medical expenses are deductible once they exceed 7.5 % of your Adjusted Gross Income ( AGI ) . Because this threshold is high , it is most beneficial in years with unusual or significant medical costs - such as surgeries , accidents , or major health issues . If 2025 includes substantial expens- es , be sure to gather all documentation . 3. Home Sale or Purchase : Deductible Expenses If you purchased or sold a property this year , you may be able to deduct costs such as : Appraisals Inspections Attorney fees Title searches Certain closing fees These expenses often go unclaimed - review your settlement statement with your advisor or accountant . 4. Harvest Capital Gains and Losses by 12/31 Now is an ideal time to review your taxable investment portfolio : Long - term gains ( held > 1 year ) are taxed at 15 % Short - term gains ( held < 1 year ) are taxed at ordinary income rates To reduce your tax burden , aim to offset realized gains with realized losses before year - end . We can help analyze your positions and identify tax - efficient opportunities . 5. Charitable Contributions " Bunching " charitable gifts into one year can help you exceed the standard deduction and claim a larger itemized deduction . Cash contributions : deductible up to 60 % of AGI Low - cost - basis stock donations : deductible up to 30 % of AGI Gifting appreciated securities is often the most tax - efficient way to give . 6. Maximize Retirement Contributions Be sure to take advantage of the increased 2025 contribution limits : Traditional or Roth IRA Contribute up to $ 7,000 Or $ 8,000 if you are 50+ 401 ( k ) or 403 ( b ) Contribute up to $ 23,500 Plus a $ 7,500 catch - up if 50+ Total possible contribution : $ 31,000 Maximizing retirement contributions reduces current taxable income while enhancing long - term savings . 7. Consider a Roth IRA Conversion A Roth conversion may be beneficial if : Your income is unusually low in 2025 You expect higher tax brackets in the future You want to reduce required minimum distributions ( RMDS ) later in life A conversion requires careful analysis of tax brackets and long - term financial goals . Beth Genter Ellie Genter we invest in your future . A Final Note Regardless of wealth level , there are numerous year - end tax - saving opportunities available . We encourage you to review your financial situation with a qualified wealth advisor to determine which strategies best support your goals . Our team at Schenley Capital is always available to assist . Happy Holidays and please visit us at our new offices at 428 Walnut Street ! schenley capital adno = 396725 Schenley Capital Inc. schenley 428 Walnut Street , Suite 200 Sewickley , PA 15143 ( 412 ) -749-9256 f in Schenley Capital , Inc. does not provide legal , accounting or tax advice . Any statement regarding such matters is explanatory and may not be relied upon as definitive advice . All investors are advised to consult with their legal , accounting and tax advisers regarding any potential investment . adno = 324108