7 Things You Can Do Now to Shave Your Tax Bill Next Year

The 2023 tax year has only just begun, and the tax-filing deadline for 2023 taxes is more than a year away. But if you get a jump on planning, you can lock in big tax savings.

With stock prices still way off their highs and the Internal Revenue Service’s recent inflation adjustments to 2023 tax thresholds, early-year tax moves could reduce your taxable income, enhance tax-deferred savings and pass more to your beneficiaries free of taxes.