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Year-end investment planning tips
Consider taking some of the following actions, which may help reduce the amount you owe in taxes, before year-end. These actions may also improve your overall financial picture.
Although December 31 is the technical date many of these activities need to be completed for tax purposes, they will need to be put in process well in advance of December 31 to implement by year-end.
Wells Fargo & Company and its affiliates do not provide tax or legal advice. This communication cannot be relied upon to avoid tax penalties. Please consult your tax and legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your tax return is filed.
Actions to consider now:
- Ask your advisor for a realized and unrealized gain/loss report. Review your portfolio with your advisors to help ensure your asset allocation still aligns with your goals.
- Meet with your tax advisor to prepare preliminary tax projections and evaluate whether to accelerate or defer income and expenses. Recent tax legislation may have potential implications on your financial situation
- Review tax-loss selling strategies with your advisor. Remember, the last day to “double up” a position to help avoid a wash sale is November 28, 2025.
- Determine if you need to make any adjustments to tax withholding or estimated payments.
Actions to consider soon:
- Create or add funds to your education savings program.
- Develop a plan to complete charitable and family member gifts by year-end.
- Consider funding a flexible spending account (FSA) or health savings account (HSA) during your employer's annual benefits enrollment period.
- Review planned expenses and purchases to identify liquidity planning strategies, such as financing options that may help avoid selling investments and defer capital gains taxes.
Actions to consider before December 31:
- Discuss with your tax advisor whether qualified charitable distributions (QCDs) from your IRA are appropriate for you if you are age 70½ or older.
- Make maximum contributions to your employer retirement accounts. If contributing to your IRA, the deadline is April 15, 2026.
- Sell securities by December 31, the last trading day in 2025, to realize a capital gain or loss.
- Remember to take your required minimum distributions (RMDs) from retirement accounts this year, if applicable.
- Complete any Roth IRA conversions.
- Make gifts to individuals. The annual gift tax exclusion amount for 2025 gifts to individuals is $19,000.
- Make gifts to charities. Gifts must be made by December 31 in order for the donor to qualify for a 2025 tax deduction.
- If you own company-granted stock options, determine whether now is the time to exercise or disqualify them.
Although December 31 is the technical date many of these activities need to be completed for tax purposes, they will need to be put in process well in advance of December 31 to implement by year-end.
Wells Fargo & Company and its affiliates do not provide tax or legal advice. This communication cannot be relied upon to avoid tax penalties. Please consult your tax and legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your tax return is filed.
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