2023 Year End Planning [Printable Checklist & 2024 Contribution Limits Included]


As the end of the year approaches, it’s time to start planning ahead.


In between the busyness and usual “to-do’s” of the upcoming holiday season, now is a good time to begin pulling out last year’s tax return, along with your current pay stubs and account statements.

Doing a few quick projections will help you estimate your present tax position, considering any changes throughout 2023, and identify any glaring issues you might need to address while there’s still time.


Take into account these items below:


  • Tax Loss Harvesting: Capture realized losses thoughtfully before year end.


  • Charitable Contributions: Identify ways to give back and make full use of your charitable deduction.


  • Funding Company Retirement Plans: Maximize your contribution if possible and take full advantage of any employer match benefit.


  • Review Contributions to FSAs and HSAs: Maximize your contribution if possible. Clients ages 55+ can contribute an additional $1,000 for 2023.


  • Reviewing Estate Plans: Be sure to update beneficiary designations and review trustee appointments, power of attorney provisions, and health care directives.

We will be happy to speak with your tax advisor or send you any year-to-date statements you may need. If you don’t already have a tax advisor, we can recommend one to you.

Here are some important and helpful items for your reference:


We look forward to answering any questions you may have.


The Axial Team


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